Equities tumbled and the yuan plunged after President Donald Trump’s threat to increase tariffs on Chinese imports called into question whether a would-be-final-round of trade talks will take place this week.
Treasury futures climbed and oil sank following Trump’s plan to hike tariffs on Friday and news that China is considering delaying the upcoming talks. Chinese stocks were hit especially hard, with benchmark indexes tumbling about 6 percent. The government even called on its “National Team” of state investors to prepare to stabilize the market if needed on Monday, according to people familiar with the matter. The yen rose and the Aussie slid. Futures on the S&P 500 Index sank as much as 2.2 percent, signaling a nasty start to the week on Wall Street. European futures also retreated.
Nikkei Closed Hang Seng -3.13% CSI -5.83% Shanghai -5.61% Shenzen -7.06%
Eur$ 1.1191 CNH 6.7920 CNY 6.7758 JPY 110.73 GBP 1.3117 CHF 1.0161 RUB 65.4594 TRY 5.9971 WTI$ 60.60 -2.61%
S&P -1.82% EuroStoxx -1.68% FTSE Closed CAC -1.40% Dax -1.73% SMI -0.99%
Macro :
- China Considers Delaying or Canceling Liu’s U.S. Trip: SCMP (1)
- Trump Threatens to Raise China Tariffs Before Talks This Week
- Goldman Sees 40% Chance of U.S. Tariff Hike on China Friday (1)
- IPO : Zoom Surges Past Lyft, Pinterest as Value Tops $20 Billion
- Kim’s Latest Weapons Test Shows Growing Frustration With Trump
- Watch Luxury Stocks, Steelmakers, Autos on Trump Tariff Tweets
Keep an eye on :
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- AIR FP : Boeing Left Airlines, FAA in Dark on 737 Alert Linked to Crash
- AZA IM : Atlantia could take 20% stake in Alitalia
- CS FP : AXA Sale of Belgian Bank Could Fetch EU500m-EU800m: Les Echos
- BAKKA NO : Bakkafrost First Quarter Operating Ebit Misses Estimates
- CRG IM : Banca Carige close to falling under control of BlackRock
- BRE IM : Brembo Appoints Schillaci CEO as Abbati Marescotti Leaves
- BT/A LN : New BT chief seeks to make his mark with push into fibre - FT : https://on.ft.com/2IXDBSZ
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- DBK GY : Deutsche Bank Is Still a Worry for the ECB: Ferdinando Giugliano
- DIA SM : LetterOne Removes Minimum Acceptance Level from DIA Tender Offer
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- FER IM : Ferretti May Consider IPO or New Partner, CEO Tells Corriere
- GIVN SW : Givaudan Completes Acquisition of Albert Vieille; No Terms
- GUNN SS : Time to Buy Gunnebo Shares, Dagens Industri Tells Readers
- HSBA LN : HSBC Sets Up Fintech Co., Applies for H.K. Lender License: Daily
- ISAT LN : Delay Possible on Intelsat Airwaves Bid as FCC Seeks Comment
- KINVB SS : Kinnevik Adopts Framework to Push Gender Equality, Inclusion
- LAND SW : Landis + Gyr Full Year Adjusted Ebitda 3.7% Above Estimates
- MS IM : Mediaset close to acquiring Cine Sony
- MTRO LN : Metro Bank May Price Rights Issue at GBP4-GBP4.50/Share: Times
- MTFB LN : Micro-Cap Motif Bio Says Meeting With FDA Held as Planned
- NOVN SW : Novartis Data at AAN May Show New SMA Treatment King: BI React
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- ROG SW : Roche’s Breast Cancer Drug, Kadcyla, Approved by FDA
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- SESG FP : FCC Asks for Additional Comment on 3.7-4.2 GHz Band
- G24 GY : *BLACKSTONE, H&F SAID TO PLAN RECONFIRMING SCOUT24 OFFER TERMS
- SHRE LN : Share Plc Rises 25% on Interactive Investor’s Prelim. Approach
- SIE GY : Reuters - Siemens weighs carving out Gas and Power unit Reuters - https://reut.rs/2VioyK3
- STM GY : Stabilus Cuts FY Revenue Forecast as 2Q Misses Estimates
- TEL NO : Telenor, Axiata Enter Talks to Merge Asian Operations
- TTK GY : acquires Dutch e-commerce food service supplier 2019-05-03
- TSLA US : U.S. Won’t Exempt Tesla Autopilot Tech From Tariffs: TechCrunch
- THAL LN : Thalassa Holdings Local Shopping REIT Offer Lapsed
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- VOD LN : Portugal Says It Received No Vodafone Notifications on Network
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- WTB LN : Whitbread shareholder Elliott Advisors pushes for hotel disposals