In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday.

The US stock market suffered a historic pullback after the Dow Jones Industrial Average and S&amp;P 500 each tumbled over 12 per cent and 11% this week over the coronavirus pandemic and wiped out more than $6 trillion from global stocks. It was the biggest five-day slide since the depths of the 2008 financial crisis.

Also read:<a href="https://www.wionews.com/business-economy/sensex-nifty-crash-as-global-markets-dive-over-spread-of-coronavirus-283314"> Sensex, Nifty crash as global markets dive over spread of coronavirus</a>

According to the report, the world’s three richest people, Amazon founder Jeff Bezos, Microsoft Corporation's Bill Gates and LVMH Chairman Bernard Arnault suffered the biggest losses, as their combined wealth dropped about $30 billion.

Founder of SpaceX and CEO of Tesla, Elon Musk, lost $9 billion as shares of Tesla recorded a major dip. &nbsp;

Also Read:<a href="https://www.wionews.com/business-economy/carnage-on-dalal-street-stock-market-crash-wipes-off-rs-5-lakh-cr-investor-wealth-283262"> Carnage on Dalal Street - Stock market crash wipes off Rs 5 lakh cr investor wealth</a>

The virus which originated from Wuhan in Hubei province in China has already claimed 2,856 people and infected more than 83,000 worldwide and spread to at least 45 countries.&nbsp;

However, Iran has emerged as a new hotspot for the virus, with at least 43 deaths and more than 245 infections so far.

Meanwhile, oil prices sank to a new low of $50.05 per barrel as the virus sparked panic over crude demand.

European stock markets bled with Frankfurt's DAX 30 index diving 5.2 per cent. 
&nbsp;

In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday.

In the aftermath of the global stock markets bloodbath, world's 500 richest people lost $444 billion in total this week, Bloomberg Billionaires Index said on Saturday. The US stock market suffered a historic pullback after the Dow Jones Industrial Average and S&P 500 each tumbled over 12 per cent and 11% this week over the coronavirus pandemic and wiped out more than $6 trillion from global stocks. It was the biggest five-day slide since the depths of the 2008 financial crisis. Also read: Sensex, Nifty crash as global markets dive over spread of coronavirus According to the report, the world’s three richest people, Amazon founder Jeff Bezos, Microsoft Corporation's Bill Gates and LVMH Chairman Bernard Arnault suffered the biggest losses, as their combined wealth dropped about $30 billion. Founder of SpaceX and CEO of Tesla, Elon Musk, lost $9 billion as shares of Tesla recorded a major dip. Also Read: Carnage on Dalal Street - Stock market crash wipes off Rs 5 lakh cr investor wealth The virus which originated from Wuhan in Hubei province in China has already claimed 2,856 people and infected more than 83,000 worldwide and spread to at least 45 countries. However, Iran has emerged as a new hotspot for the virus, with at least 43 deaths and more than 245 infections so far. Meanwhile, oil prices sank to a new low of $50.05 per barrel as the virus sparked panic over crude demand. European stock markets bled with Frankfurt's DAX 30 index diving 5.2 per cent.

World's richest including Jeff Bezos and Bill Gates lose $444 billion in a week after global markets bleed

Stock markets struggled Friday after the <a href="https://www.wionews.com/videos/who-declares-coronavirus-as-global-health-emergency-277634">World Health Organisation</a> declared a global health emergency over <a href="https://www.wionews.com/world/latest-world-news-wuhan-virus-death-toll-hits-213-in-china-nearly-10000-infected-277621">China</a>'s spreading deadly virus.

With hours to go until <a href="https://www.wionews.com/videos/what-will-be-uk-eu-relations-post-brexit-277791">Britain</a> finally leaves the <a href="https://www.wionews.com/videos/what-will-be-uk-eu-relations-post-brexit-277791">European Union</a>, the London stock market sank 0.8 per cent in late morning deals as a relief rally for the pound hurt exporters.

Frankfurt and Paris shed 0.2 per cent and 0.4 per cent respectively around midday after Asia was also gripped by virus worries in a volatile end to the week.

The novel coronavirus epidemic, which originated in the central Chinese city Wuhan, has so far killed 213 people and spread to at least 19 countries including two cases declared on Friday in Britain.

Also read:&nbsp;<a href="https://www.wionews.com/world/latest-world-news-wuhan-virus-death-toll-hits-213-in-china-nearly-10000-infected-277621">Wuhan virus death toll hits 213 in China, nearly 10000 infected</a>

China's National Health Commission meanwhile said nearly 10,000 people have been infected.

"Coronavirus is currently spreading six times faster than SARS. Unless a cure is found, this could push a fragile world economic recovery into reverse," warned Douglas McWilliams, deputy chairman at British research group the Centre for Economics and Business Research (CEBR).

He added, "It is clear that unless a cure and a vaccination are found rapidly, the fragile recovery that we predict is at risk. That is why from an economics point of view it is so vital that a cure and a vaccine is found."

Watch:&nbsp;<a href="https://www.wionews.com/videos/who-declares-coronavirus-as-global-health-emergency-277634">WHO declares Coronavirus as global health emergency</a>

Separately, the EU's official statistics agency announced Friday that the 19-member single currency area had already suffered a sharp slowdown after a turbulent year of Brexit uncertainty and trade spats with US President <a href="https://www.wionews.com/videos/trump-impeachment-witnesses-and-prez-privilege-dominate-qa-277635">Donald Trump.</a>

The eurozone economy grew 1.2 per cent over the year, down from 1.8 per cent in 2018 and well off the 2.7 per cent seen in 2017.

Meanwhile, the Geneva-based <a href="https://www.wionews.com/videos/who-declares-coronavirus-as-global-health-emergency-277634">WHO</a> invoked a global health emergency on coronavirus but stopped short of recommending trade and travel restrictions that could have had a bruising effect on key global growth engine China.

"This is not a vote of no confidence in China," WHO chief Tedros Adhanom Ghebreyesushe said, praising Beijing for its swift action to tackle the outbreak.

Also see:&nbsp;<a href="https://www.wionews.com/photos/myths-vs-facts-about-coronavirus-277676">Myths vs facts about China's coronavirus</a>

'We must act now'

China has locked down a swathe of its centre, effectively quarantining millions of people in their cities and halting travel around the country.

"We must all act together now to limit further spread... We can only stop it together," said Tedros, who travelled to China this week and met with President Xi Jinping.

Foreign airlines including British Airways and Lufthansa have begun cancelling or curtailing flights to and from China, and a number of governments are recommending citizens do not visit the country.

Investors initially applauded the WHO's move, plunging back into markets that have lost altitude over recent days as the 2019-nCoV crisis has worsened.

"Coronavirus fears continue to remain a dominant driver of market sentiment, with the continued proliferation of the virus providing a huge cause for concern," noted IG analyst Joshua Mahony.

"Growth fears remain relevant as the virus continues to spread," he also warned.

World oil prices firmed Friday after plunging the previous day to three-month lows on virus-linked demand fears in China, which is a major market for raw materials including crude.

Stock markets struggled Friday after the World Health Organisation declared a global health emergency over China's spreading deadly virus. With hours to go until Britain finally leaves the European Union, the London stock market sank 0.

Stock markets struggled Friday after the World Health Organisation declared a global health emergency over China's spreading deadly virus. With hours to go until Britain finally leaves the European Union, the London stock market sank 0.8 per cent in late morning deals as a relief rally for the pound hurt exporters. Frankfurt and Paris shed 0.2 per cent and 0.4 per cent respectively around midday after Asia was also gripped by virus worries in a volatile end to the week. The novel coronavirus epidemic, which originated in the central Chinese city Wuhan, has so far killed 213 people and spread to at least 19 countries including two cases declared on Friday in Britain. Also read: Wuhan virus death toll hits 213 in China, nearly 10000 infected China's National Health Commission meanwhile said nearly 10,000 people have been infected. "Coronavirus is currently spreading six times faster than SARS. Unless a cure is found, this could push a fragile world economic recovery into reverse," warned Douglas McWilliams, deputy chairman at British research group the Centre for Economics and Business Research (CEBR). He added, "It is clear that unless a cure and a vaccination are found rapidly, the fragile recovery that we predict is at risk. That is why from an economics point of view it is so vital that a cure and a vaccine is found." Watch: WHO declares Coronavirus as global health emergency Separately, the EU's official statistics agency announced Friday that the 19-member single currency area had already suffered a sharp slowdown after a turbulent year of Brexit uncertainty and trade spats with US President Donald Trump. The eurozone economy grew 1.2 per cent over the year, down from 1.8 per cent in 2018 and well off the 2.7 per cent seen in 2017. Meanwhile, the Geneva-based WHO invoked a global health emergency on coronavirus but stopped short of recommending trade and travel restrictions that could have had a bruising effect on key global growth engine China. "This is not a vote of no confidence in China," WHO chief Tedros Adhanom Ghebreyesushe said, praising Beijing for its swift action to tackle the outbreak. Also see: Myths vs facts about China's coronavirus 'We must act now' China has locked down a swathe of its centre, effectively quarantining millions of people in their cities and halting travel around the country. "We must all act together now to limit further spread... We can only stop it together," said Tedros, who travelled to China this week and met with President Xi Jinping. Foreign airlines including British Airways and Lufthansa have begun cancelling or curtailing flights to and from China, and a number of governments are recommending citizens do not visit the country. Investors initially applauded the WHO's move, plunging back into markets that have lost altitude over recent days as the 2019-nCoV crisis has worsened. "Coronavirus fears continue to remain a dominant driver of market sentiment, with the continued proliferation of the virus providing a huge cause for concern," noted IG analyst Joshua Mahony. "Growth fears remain relevant as the virus continues to spread," he also warned. World oil prices firmed Friday after plunging the previous day to three-month lows on virus-linked demand fears in China, which is a major market for raw materials including crude.

Markets struggle after World Health Organisation declares coronavirus emergency

Chinese health authorities announced Monday that 24 new fatalities have brought the death toll from the coronavirus outbreak to 80 and more than 2,744 have been infected so far.

Meanwhile,Former NBA legend Kobe Bryant was killed in a helicopter crash in Los Angeles, California on Sunday. The tragic event killed all nine onboard including his 13-year-old daughter Gianna Bryant.

Here are the top world news of the day:

NBA legend Kobe Bryant and his daughter, Gianna, among 9 killed in a chopper crash in California

Former NBA legend Kobe Bryant was killed in a helicopter crash in Los Angeles, California on Sunday. The tragic event killed all nine onboard including his 13-year-old daughter Gianna Bryant. <a href="https://www.wionews.com/sports/nba-legend-kobe-bryant-and-his-daughter-gianna-among-9-killed-in-a-chopper-crash-in-california-276748">Read more</a>

Coronavirus outbreak: China reports 2,744 confirmed cases, 80 deaths

Chinese health authorities announced Monday that 24 new fatalities have brought the death toll from the coronavirus outbreak to 80 and more than 2,744 have been infected so far. <a href="https://www.wionews.com/world/coronavirus-outbreak-china-reports-2744-confirmed-cases-of-80-deaths-276738">Read more</a>

Trump withheld aid to Ukraine, reveals Bolton's new book

As&nbsp;Donald Trump's impeachment continues in the Senate, his former national security adviser&nbsp;John Bolton&nbsp;has confirmed in his new book that Trump&nbsp;had withheld military aid to Ukraine to force the country into probing his rival&nbsp;Joe Biden&nbsp;and his son&nbsp;Hunter Biden. <a href="https://www.wionews.com/world/ex-security-adviser-trump-withheld-aid-to-ukraine-to-force-investigation-of-joe-and-hunter-biden-276910">Read more</a>

Portuguese hacker behind leaking Angola ex-president daughter's fortune: Lawyers

A Portuguese hacker, Rui Pinto, leaked information relating to Angola's former president's daughter Isabel dos Santos syphoning off state funds to build her own business empire, his lawyers said. <a href="https://www.wionews.com/world/portuguese-hacker-behind-leaking-angola-ex-president-daughters-fortune-lawyers-276896">Read more</a>

After Brexit, new fast track 'global talent visa' unveiled by United Kingdom

The&nbsp;British&nbsp;government<a href="https://www.wionews.com/world/post-brexit-uk-trade-deal-with-us-optimistic-mnuchin-276612">&nbsp;</a>has announced a new fast-track ''global talent visa'' scheme to motivate top scientists, researchers and mathematicians to come to the&nbsp;UK. <a href="https://www.wionews.com/world/after-brexit-new-fast-track-global-talent-visa-unveiled-by-united-kingdom-276861">Read more</a>

Plane crashes in Afghanistan's Ghazni province

A plane crashed in&nbsp;Afghanistan's Ghazni province. The aircraft came down in Deh Yak district of Ghazni at around 1:10 pm. <a href="https://www.wionews.com/south-asia/plane-crashes-in-afghanistans-ghazni-province-276876">Read more</a>

Equities and oil tank plunge as deadly coronavirus triggers panic

World stock markets and oil prices plunged Monday, as panicking investors bolted for safer assets after China warned that the spread of a deadly coronavirus was accelerating.&nbsp;<a href="https://www.wionews.com/business-economy/equities-and-oil-tank-plunge-as-deadly-coronavirus-triggers-panic-276900">Read more</a>

Car bombing kills 7 in Syria's rebel-held Azaz: Monitor

At least seven people were killed Sunday in a car bomb that hit a rebel-held city in northwestern Syria, a war monitor said. <a href="https://www.wionews.com/world/car-bombing-kills-7-in-syrias-rebel-held-azaz-monitor-276730">Read more</a>

UK's sovereignty at risk if Huawei is allowed for 5G, warns Mike Pompeo

United States&nbsp;Secretary of State&nbsp;Mike Pompeo&nbsp;on Sunday said that&nbsp;United Kingdom's sovereignty is at risk if Chinese firm&nbsp;Huawei&nbsp;is allowed to develop 5G infrastructure in the country. <a href="https://www.wionews.com/world/uks-sovereignty-at-risk-if-huawei-is-allowed-for-5g-warns-mike-pompeo-276792">Read more</a>

Palestinian Prime Minister calls on world to boycott Donald Trump's peace plan

Palestinian prime minister&nbsp;Mohammad Shtayyeh on Monday urged international powers to boycott US President&nbsp;Donald Trump's "peace plan" which they see as biased towards Israel.<a href="https://www.wionews.com/world/palestinian-prime-minister-calls-on-world-to-boycott-donald-trumps-peace-plan-276902"> Read more</a>

Iran: Plane skids off runway with 135 onboard; all passengers safe

With over 100 passengers on board, a plane skidded off the runway as it landed at&nbsp;Iran's Mahshahr airport on Monday. However, no harm was caused to any passenger on board. <a href="https://www.wionews.com/world/iran-plane-skids-off-runway-with-135-onboard-all-passengers-safe-276904">Read more</a>

Chinese health authorities announced Monday that 24 new fatalities have brought the death toll from the coronavirus outbreak to 80 and more than 2,744 have been infected so far.

Chinese health authorities announced Monday that 24 new fatalities have brought the death toll from the coronavirus outbreak to 80 and more than 2,744 have been infected so far. Meanwhile,Former NBA legend Kobe Bryant was killed in a helicopter crash in Los Angeles, California on Sunday. The tragic event killed all nine onboard including his 13-year-old daughter Gianna Bryant. Here are the top world news of the day: NBA legend Kobe Bryant and his daughter, Gianna, among 9 killed in a chopper crash in California Former NBA legend Kobe Bryant was killed in a helicopter crash in Los Angeles, California on Sunday. The tragic event killed all nine onboard including his 13-year-old daughter Gianna Bryant. Read more Coronavirus outbreak: China reports 2,744 confirmed cases, 80 deaths Chinese health authorities announced Monday that 24 new fatalities have brought the death toll from the coronavirus outbreak to 80 and more than 2,744 have been infected so far. Read more Trump withheld aid to Ukraine, reveals Bolton's new book As Donald Trump's impeachment continues in the Senate, his former national security adviser John Bolton has confirmed in his new book that Trump had withheld military aid to Ukraine to force the country into probing his rival Joe Biden and his son Hunter Biden. Read more Portuguese hacker behind leaking Angola ex-president daughter's fortune: Lawyers A Portuguese hacker, Rui Pinto, leaked information relating to Angola's former president's daughter Isabel dos Santos syphoning off state funds to build her own business empire, his lawyers said. Read more After Brexit, new fast track 'global talent visa' unveiled by United Kingdom The British government has announced a new fast-track ''global talent visa'' scheme to motivate top scientists, researchers and mathematicians to come to the UK. Read more Plane crashes in Afghanistan's Ghazni province A plane crashed in Afghanistan's Ghazni province. The aircraft came down in Deh Yak district of Ghazni at around 1:10 pm. Read more Equities and oil tank plunge as deadly coronavirus triggers panic World stock markets and oil prices plunged Monday, as panicking investors bolted for safer assets after China warned that the spread of a deadly coronavirus was accelerating. Read more Car bombing kills 7 in Syria's rebel-held Azaz: Monitor At least seven people were killed Sunday in a car bomb that hit a rebel-held city in northwestern Syria, a war monitor said. Read more UK's sovereignty at risk if Huawei is allowed for 5G, warns Mike Pompeo United States Secretary of State Mike Pompeo on Sunday said that United Kingdom's sovereignty is at risk if Chinese firm Huawei is allowed to develop 5G infrastructure in the country. Read more Palestinian Prime Minister calls on world to boycott Donald Trump's peace plan Palestinian prime minister Mohammad Shtayyeh on Monday urged international powers to boycott US President Donald Trump's "peace plan" which they see as biased towards Israel. Read more Iran: Plane skids off runway with 135 onboard; all passengers safe With over 100 passengers on board, a plane skidded off the runway as it landed at Iran's Mahshahr airport on Monday. However, no harm was caused to any passenger on board. Read more

Top 10 world news today: Kobe Bryant killed, coronavirus outbreak in China, global market sinks, and more

<a href="https://www.wionews.com/business-economy/gold-prices-steady-as-market-awaits-united-states-employment-report-253433">Gold prices</a> rose to their highest in more than two months on Monday in thin year-end trading as the dollar dipped and US&nbsp;military strikes in the Middle East drove investors towards the safe-haven metal.

Spot gold rose 0.3 per cent&nbsp;to $1,514.94 per ounce by 0359 GMT. Earlier in the session, prices hit their highest since October&nbsp;25 at $1,515.80. US&nbsp;gold futures were unchanged at $1,518.

"We are looking at pre-positioning for next year and a rebalancing of portfolios ahead of year-end, overlaid with very low liquidity levels, that are essentially exacerbating the volatility and making these moves appear exaggerated," said Ilya Spivak, a senior currency strategist at DailyFx.

Gold is receiving modest support from the <a href="https://www.wionews.com/world/25-isis-terrorists-killed-in-us-airstrikes-in-iraq-175533">US&nbsp;airstrikes</a> in the middle east, Spivak added.

The US&nbsp;military on Sunday carried out successful airstrikes in Iraq and Syria against an Iran-backed militia group, spurring market uncertainty and geopolitical tensions.

Gold is considered a safe investment in times of geopolitical and economic uncertainty.

Further helping gold, the dollar slipped against a basket of rivals, making gold cheaper for holders of other currencies.

Gold prices have risen about 18 per cent this year and we're on track for its best year since 2010, mainly due to the 17-month-long Sino-US&nbsp;tariff war and its impact on global economic growth.

"But from a pure macro and risk perspective, it currently makes little sense for gold to be trading above $1,500/oz. The surging equity market and higher gold prices seldom, if ever, exist in the same time frame and simultaneously moving higher," said Stephen Innes, a market strategist at AxiTrader in a note.

On the trade front, China's Commerce Ministry on Sunday said it has "proactively dealt with" trade frictions with US&nbsp;this year.

Market participants, however, remained wary even after Washington and Beijing have made progress in their tariff dispute and official ratification of an initial trade deal was close.

Indicative of investor sentiment, holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.1 per cent&nbsp;to 893.25 tonnes on Friday, the highest since November 29.

Among other precious metals, silver rose 0.9 per cent&nbsp;to$17.92 per ounce, while platinum climbed 0.2 per cent&nbsp;to $946.62. Palladium was flat at $1,905.28 per ounce.

Gold prices rose to their highest in more than two months on Monday in thin year-end trading as the dollar dipped and US military strikes in the Middle East drove investors towards the safe-haven metal.

Gold prices rose to their highest in more than two months on Monday in thin year-end trading as the dollar dipped and US military strikes in the Middle East drove investors towards the safe-haven metal. Spot gold rose 0.3 per cent to $1,514.94 per ounce by 0359 GMT. Earlier in the session, prices hit their highest since October 25 at $1,515.80. US gold futures were unchanged at $1,518. "We are looking at pre-positioning for next year and a rebalancing of portfolios ahead of year-end, overlaid with very low liquidity levels, that are essentially exacerbating the volatility and making these moves appear exaggerated," said Ilya Spivak, a senior currency strategist at DailyFx. Gold is receiving modest support from the US airstrikes in the middle east, Spivak added. The US military on Sunday carried out successful airstrikes in Iraq and Syria against an Iran-backed militia group, spurring market uncertainty and geopolitical tensions. Gold is considered a safe investment in times of geopolitical and economic uncertainty. Further helping gold, the dollar slipped against a basket of rivals, making gold cheaper for holders of other currencies. Gold prices have risen about 18 per cent this year and we're on track for its best year since 2010, mainly due to the 17-month-long Sino-US tariff war and its impact on global economic growth. "But from a pure macro and risk perspective, it currently makes little sense for gold to be trading above $1,500/oz. The surging equity market and higher gold prices seldom, if ever, exist in the same time frame and simultaneously moving higher," said Stephen Innes, a market strategist at AxiTrader in a note. On the trade front, China's Commerce Ministry on Sunday said it has "proactively dealt with" trade frictions with US this year. Market participants, however, remained wary even after Washington and Beijing have made progress in their tariff dispute and official ratification of an initial trade deal was close. Indicative of investor sentiment, holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.1 per cent to 893.25 tonnes on Friday, the highest since November 29. Among other precious metals, silver rose 0.9 per cent to$17.92 per ounce, while platinum climbed 0.2 per cent to $946.62. Palladium was flat at $1,905.28 per ounce.

Gold hits two-month peak on dollar weakness, US strikes

&nbsp;A broad gauge of <a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">Asian share </a>markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of US&nbsp;crude inventory drawdowns, trade optimism and unrest in the Middle East.

But European shares were expected to open lower as investors take a breather from recent rallies.

In early European trade, the pan-region Euro Stoxx 50 futures were down 0.16 per cent&nbsp;at 3,764, German DAX futures were down 0.22 per cent&nbsp;at 13,291.5 and FTSE futures were down 0.11&nbsp;per cent&nbsp;at 7,578.5.

MSCI's broadest index of Asia-Pacific shares outside Japan rose to its highest since June 19, 2018, before trimming gains. It was last up by 0.05 per cent.

Chinese blue chips, which had started the day lower, were up 1.13&nbsp;per cent&nbsp;in afternoon trade, bolstered by a report that 2019 retail sales are forecast to rise 8&nbsp;per cent&nbsp;and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth.

But Australian shares finished 0.25 per cent&nbsp;lower as investors continued to consolidate recent gains.

Japan's Nikkei stock index finished its last trading day of the year down 0.76 per cent. The index gained 18.2per cent&nbsp;in 2019 after dropping 12.8 per cent&nbsp;last year. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent&nbsp;and putting it on track for its strongest month since January.

Kay Van-Petersen, the global macro strategist at <a href="https://www.wionews.com/business-economy/global-markets-china-lifts-asian-shares-oil-up-on-drawdowns-mideast-tensions-270929">Saxo Capital Markets</a>, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback.&nbsp;I don't think it's going to be significant by any means."

Global equity markets gained late last week, with the S&amp;P 500 and the Dow Jones Industrial Average closing at records on Friday.

The Dow ended 0.08 per cent&nbsp;higher at 28,645.26 and the S&amp;P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17 per cent&nbsp;to 9,006.62.

Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months.

On Monday, global benchmark Brent crude was up 0.31per cent&nbsp;to $68.37 per barrel, while US&nbsp;<a href="https://www.wionews.com/business-economy/crude-oil-prices-fall-1-on-fears-for-global-economy-233148">West Texas Intermediate</a> crude added 0.13 per cent&nbsp;to $61.80, reversing an earlier decline.

Oil's gains followed news of <a href="https://www.wionews.com/world/25-isis-terrorists-killed-in-us-airstrikes-in-iraq-175533">US&nbsp;airstrikes</a> in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US&nbsp;officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US&nbsp;interests.

But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks.

"Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets.

Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations.

Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December&nbsp;20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday.

Gold also continued its run-up, boosted by a weak dollar, after posting its best week in more than four months on Friday amid thin trading volumes.

The precious metal on Monday rose 0.3 per cent&nbsp;to $1,515 per ounce on the spot market.

In the currency markets, the dollar was 0.27&nbsp;per cent&nbsp;lower against the yen at 109.11 and the euro was up 0.23&nbsp;per cent&nbsp;on the day at $1.1201.

The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.14&nbsp;per cent&nbsp;to 96.786.

The yield on benchmark 10-year Treasury notes was at 1.877 per cent&nbsp;compared with its US&nbsp;close of 1.873&nbsp;per cent&nbsp;on Friday, while the two-year yield edged down to 1.5812 per cent&nbsp;compared with a US&nbsp;close of 1.589 per cent.

A broad gauge of Asian share markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East.

A broad gauge of Asian share markets rose to an 18-month high on Monday as Chinese equities gained, while oil touched three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East. But European shares were expected to open lower as investors take a breather from recent rallies. In early European trade, the pan-region Euro Stoxx 50 futures were down 0.16 per cent at 3,764, German DAX futures were down 0.22 per cent at 13,291.5 and FTSE futures were down 0.11 per cent at 7,578.5. MSCI's broadest index of Asia-Pacific shares outside Japan rose to its highest since June 19, 2018, before trimming gains. It was last up by 0.05 per cent. Chinese blue chips, which had started the day lower, were up 1.13 per cent in afternoon trade, bolstered by a report that 2019 retail sales are forecast to rise 8 per cent and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth. But Australian shares finished 0.25 per cent lower as investors continued to consolidate recent gains. Japan's Nikkei stock index finished its last trading day of the year down 0.76 per cent. The index gained 18.2per cent in 2019 after dropping 12.8 per cent last year. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent and putting it on track for its strongest month since January. Kay Van-Petersen, the global macro strategist at Saxo Capital Markets, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback. I don't think it's going to be significant by any means." Global equity markets gained late last week, with the S&P 500 and the Dow Jones Industrial Average closing at records on Friday. The Dow ended 0.08 per cent higher at 28,645.26 and the S&P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17 per cent to 9,006.62. Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months. On Monday, global benchmark Brent crude was up 0.31per cent to $68.37 per barrel, while US West Texas Intermediate crude added 0.13 per cent to $61.80, reversing an earlier decline. Oil's gains followed news of US airstrikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US interests. But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks. "Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets. Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations. Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December 20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday. Gold also continued its run-up, boosted by a weak dollar, after posting its best week in more than four months on Friday amid thin trading volumes. The precious metal on Monday rose 0.3 per cent to $1,515 per ounce on the spot market. In the currency markets, the dollar was 0.27 per cent lower against the yen at 109.11 and the euro was up 0.23 per cent on the day at $1.1201. The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.14 per cent to 96.786. The yield on benchmark 10-year Treasury notes was at 1.877 per cent compared with its US close of 1.873 per cent on Friday, while the two-year yield edged down to 1.5812 per cent compared with a US close of 1.589 per cent.

Global Markets: Asian shares at 18-month highs; Nikkei finishes year up 18%

A broad gauge of <a href="https://www.wionews.com/business-economy/asian-shares-near-18-month-high-bask-in-trade-deal-afterglow-269696">Asian share</a> markets rose to the highest in 18 months on Monday as Chinese equities gained, while oil hovered near three-month highs on a combination of US&nbsp;crude inventory drawdowns, trade optimism and unrest in the Middle East.

MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent, turning around from an earlier loss. The index rose to its highest since June 19.

Chinese blue chips, which had started the day lower, were up 1.24&nbsp;per cent at the midday break, bolstered by a report that 2019 retail sales are forecast to rise 8&nbsp;per cent and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth.

But Australian shares remained down 0.44 per cent as investors continued to consolidate recent gains. Japan's Nikkei stock index slid 0.58 per cent. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent and putting it on track for its strongest month since January.

Kay Van-Petersen, a global macro strategist at <a href="https://www.wionews.com/business-economy/asian-shares-climb-as-trump-says-us-china-trade-deal-near-264827">Saxo Capital Markets</a>, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback&nbsp;I don't think it's going to be significant by any means."

Global equity markets gained late last week, with the S&amp;P 500 and the Dow Jones Industrial Average closing at records on Friday.

The Dow ended 0.08per cent higher at 28,645.26 and the S&amp;P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17&nbsp;per cent&nbsp;to 9,006.62.

Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months.

On Monday, global benchmark Brent crude was up 0.18&nbsp;per cent to $68.28 per barrel, while US&nbsp;West Texas Intermediate crude added 0.05% to $61.75, reversing an earlier decline.

Oil's gains followed news of US&nbsp;airstrikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US&nbsp;officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US&nbsp;interests.

But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks.

"Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets.

Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations.

Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December&nbsp;20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday.

Gold also continued its run-up, after posting its best week in more than four months on Friday amid thin trading volumes, in a sign that some investors continue to see risks to global growth and US-China trade.

The precious metal on Monday rose 0.33&nbsp;per cent to $1,515.40 per ounce on the spot market.

In the currency market, the dollar was 0.30&nbsp;per cent lower against the yen at 109.08 and the euro was up 0.27 per cent on the day at $1.1194.

The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.2&nbsp;per cent &nbsp;to 96.736.

The yield on benchmark 10-year Treasury notes was at 1.8752 per cent &nbsp;compared with its US&nbsp;close of 1.873&nbsp;per cent &nbsp;on Friday, while the two-year yield edged down to 1.5832 per cent&nbsp;compared with a US&nbsp;close of 1.589 per cent .

A broad gauge of Asian share markets rose to the highest in 18 months on Monday as Chinese equities gained, while oil hovered near three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East.

A broad gauge of Asian share markets rose to the highest in 18 months on Monday as Chinese equities gained, while oil hovered near three-month highs on a combination of US crude inventory drawdowns, trade optimism and unrest in the Middle East. MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent, turning around from an earlier loss. The index rose to its highest since June 19. Chinese blue chips, which had started the day lower, were up 1.24 per cent at the midday break, bolstered by a report that 2019 retail sales are forecast to rise 8 per cent and expectations that a new benchmark for floating-rate loans could lower borrowing costs and boost flagging economic growth. But Australian shares remained down 0.44 per cent as investors continued to consolidate recent gains. Japan's Nikkei stock index slid 0.58 per cent. Easing trade war worries and reduced uncertainty over the United Kingdom's plans to leave the European Union after British elections returned a strong Conservative majority have offered a lift to global equities this month, helping the broad MSCI Asia index rise more than 6 per cent and putting it on track for its strongest month since January. Kay Van-Petersen, a global macro strategist at Saxo Capital Markets, said that limited liquidity near the year-end and the easing of US-China trade and Brexit uncertainties has "just left us drifting up higher. So even if there is a pullback I don't think it's going to be significant by any means." Global equity markets gained late last week, with the S&P 500 and the Dow Jones Industrial Average closing at records on Friday. The Dow ended 0.08per cent higher at 28,645.26 and the S&P edged up just 0.11 points to 3,240.02. The Nasdaq Composite lost steam at the close, falling 0.17 per cent to 9,006.62. Oil also gained on Friday, with prices posting their fourth consecutive weekly gain to steady around their highest in three months. On Monday, global benchmark Brent crude was up 0.18 per cent to $68.28 per barrel, while US West Texas Intermediate crude added 0.05% to $61.75, reversing an earlier decline. Oil's gains followed news of US airstrikes in Iraq and Syria against Kataib Hezbollah, an Iran-backed militia group. US officials said Sunday that the attacks were successful, but warned that "additional actions" may be taken to defend US interests. But Stephen Innes, strategist at AxiTrader, said that the rise of shale oil production in the United States would offset any geopolitical risks. "Shale can really ramp up more volumes to accommodate any shortfall that could possibly be triggered by an escalation in Syria," he said, adding that an upsurge in populism in Iraq posed a larger risk to markets. Iraq's oil ministry said on Sunday that the halting of oil production at Iraq's southern Nassiriya oilfield by protestors would not affect the country's exports and operations. Oil prices were also supported by a bigger-than-expected decline in crude inventories in the United States, the world's biggest fuel consumer. Stockpiles fell by 5.5 million barrels in the week to December 20, far exceeding a 1.7-million-barrel drop forecast in a Reuters poll, the government data showed on Friday. Gold also continued its run-up, after posting its best week in more than four months on Friday amid thin trading volumes, in a sign that some investors continue to see risks to global growth and US-China trade. The precious metal on Monday rose 0.33 per cent to $1,515.40 per ounce on the spot market. In the currency market, the dollar was 0.30 per cent lower against the yen at 109.08 and the euro was up 0.27 per cent on the day at $1.1194. The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.2 per cent to 96.736. The yield on benchmark 10-year Treasury notes was at 1.8752 per cent compared with its US close of 1.873 per cent on Friday, while the two-year yield edged down to 1.5832 per cent compared with a US close of 1.589 per cent .

Global Markets: China lifts Asian shares; oil up on drawdowns, Mideast tensions

<a href="https://www.wionews.com/world/singapore-fines-credit-suisse-local-bank-over-1mdb-corruption-scandal-16218">Credit&nbsp;Suisse&nbsp;</a>cut a key&nbsp;profitability target for this year and next as a drop-in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook.

Switzerland's second-largest lender said on Wednesday it expects to hit a return on tangible equity (RoTE) above 8 per cent&nbsp;this year, below its previous target of 10-11 per cent. The Zurich-based bank also cut its forecast for next year.

"If markets are constructive and support&nbsp;revenue&nbsp;growth, we would expect our year-end 2020 RoTE to be approximately 11 per cent," the bank said in a statement ahead of an investor day in London.

"Conversely, should markets remain challenging in 2020, we have identified up to 50 basis points of additional cost measures in order to protect our RoTE ambition of approximately 10 per cent."

<a href="https://www.wionews.com/business-economy/indian-mobile-industry-to-consolidate-further-if-government-doesnt-offer-material-relief-262952">Credit&nbsp;Suisse</a>&nbsp;previously aimed to achieve 11-12&nbsp;per cent&nbsp;RoTE in 2020.

The bank will present its first investor update since completing a three-year restructuring in 2018 which cut back its investment banking activities, boosted cooperation with wealth management, and whittled down costs.

While performance at its <a href="https://www.wionews.com/business-economy/global-markets-bonds-reign-supreme-equities-struggle-on-recession-brexit-fears-246318">Global Markets</a> trading division, the focus of previous criticism, has picked up in 2019,&nbsp;revenues have&nbsp;fallen in its investment banking and capital markets business due to floundering M&amp;A activity.&nbsp;Credit&nbsp;Suisse&nbsp;now expects the division to make a loss this year.

The bank last month appointed new leadership to the division and aims to bolster its M&amp;A activity by adding more bankers to advise deals in growth industries including technology and healthcare.

"Looking ahead to 2020, we are working on actions that will reinvigorate the division, building on a strongly improving pipeline, which we expect will put us in a more advantageous position compared to 2019," it said on Wednesday.

The Swiss lender said it expected to distribute at least 50&nbsp;per cent&nbsp;of net income to shareholders looking ahead to 2020 by growing its dividend at least 5&nbsp;per cent&nbsp;annually and through a share buyback of 1-1.5 billion Swiss francs ($1.00-$1.50 billion).

Credit Suisse cut a key profitability target for this year and next as a drop-in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook.

Credit Suisse cut a key profitability target for this year and next as a drop-in dealmaking, negative interest rates and uncertainty caused by global trade tensions dimmed the outlook. Switzerland's second-largest lender said on Wednesday it expects to hit a return on tangible equity (RoTE) above 8 per cent this year, below its previous target of 10-11 per cent. The Zurich-based bank also cut its forecast for next year. "If markets are constructive and support revenue growth, we would expect our year-end 2020 RoTE to be approximately 11 per cent," the bank said in a statement ahead of an investor day in London. "Conversely, should markets remain challenging in 2020, we have identified up to 50 basis points of additional cost measures in order to protect our RoTE ambition of approximately 10 per cent." Credit Suisse previously aimed to achieve 11-12 per cent RoTE in 2020. The bank will present its first investor update since completing a three-year restructuring in 2018 which cut back its investment banking activities, boosted cooperation with wealth management, and whittled down costs. While performance at its Global Markets trading division, the focus of previous criticism, has picked up in 2019, revenues have fallen in its investment banking and capital markets business due to floundering M&A activity. Credit Suisse now expects the division to make a loss this year. The bank last month appointed new leadership to the division and aims to bolster its M&A activity by adding more bankers to advise deals in growth industries including technology and healthcare. "Looking ahead to 2020, we are working on actions that will reinvigorate the division, building on a strongly improving pipeline, which we expect will put us in a more advantageous position compared to 2019," it said on Wednesday. The Swiss lender said it expected to distribute at least 50 per cent of net income to shareholders looking ahead to 2020 by growing its dividend at least 5 per cent annually and through a share buyback of 1-1.5 billion Swiss francs ($1.00-$1.50 billion).

Credit Suisse cuts profit goals as revenue hopes fall short

<a href="https://www.wionews.com/business-economy/asian-stocks-stumble-china-us-trade-war-167374">Asian stocks</a> edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US&nbsp;jobs data although regional gains were capped by concerns about China's economic slowdown due to the prolonged Sino-US&nbsp;trade war.

Japan's benchmark Nikkei added 0.4 per cent&nbsp;while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea's KOSPI up 0.4 per cent&nbsp;and 0.3 per cent, respectively.

China's Shanghai Composite stood flat and Hong Kong's Hang Seng rose 0.2 per cent.

Wall Street rose to near record highs on Friday on the strong jobs data and some signs of optimism about the <a href="https://www.wionews.com/opinions/us-china-trade-talks-free-trade-must-not-be-derailed-198923">US-China trade talks</a>, with the benchmark S&amp;P 500 closing within 0.2 per cent&nbsp;of its peak set in late November.

US&nbsp;job growth increased by the most in 10 months in November as the healthcare industry boosted hiring and production workers at General Motors returned to work after a strike, in the strongest sign that the world's largest economy is in no danger of stalling.

"This economy is still climbing and shattering the records for longevity," said Chris Rupkey, chief financial economist at MUFG Union Bank. "Right now, the clouds of recession still remain well offshore despite troubled economies elsewhere in the world and a trade war."

Top White House economic adviser Larry Kudlow said on Friday that a Dec. 15 deadline is still in place to impose a new round of US&nbsp;tariffs on Chinese consumer goods, but President Donald Trump likes where trade talks with China are going.

Still, investors think things could change if trade tensions escalate further, especially if Trump goes ahead with the planned tariffs on some $156 billion worth of products from China in mid-December.

The market has been largely working on the assumption that those tariffs, which cover several consumer products such as cellphones and toys, will be dropped or at least postponed, given that Washington and Beijing agreed in October to work on a trade deal.

Meanwhile, China's exports shrank for the fourth consecutive month in November, sending shivers through a market already concerned about damage being done to global demand by the trade war. But growth in imports was seen as a possible sign that Beijing's stimulus efforts over the last two years were helping to stir demand.

"Although the trade data did not have much impact, concerns about slowing growth and a lack of government stimulus are capping the Chinese shares' upside," said Naoki Tashiro, president of TS China Research.

"Yet chip-related shares are doing well, suggesting investors are still positive on the outlook of Sino-US&nbsp;trade talks overall."

US&nbsp;Treasury yields climbed on the strong employment report, with benchmark 10-year notes rising to 1.843 per cent.

The Federal Reserve's Open Market Committee (FOMC) kicks off its two-day policy meeting on Tuesday. The central bank is expected to highlight the economy's resilience and keep interest rates on hold in the range of 1.50&nbsp;per cent&nbsp;to 1.75 per cent.

Analysts said the much better-than-expected jobs report offset mixed signals from recent economic data and validated the Fed's wait-and-see stance on interest rates after three "insurance cuts" this year.

Oil prices retreated but hovered near recent peaks after OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020.

<a href="https://www.wionews.com/business-economy/crude-oil-prices-fall-1-on-fears-for-global-economy-233148">US&nbsp;West Texas Intermediate</a> (WTI) crude slipped 0.5&nbsp;per cent&nbsp;to $58.92 per barrel, still not far from Friday's 2-1/2-month high of $59.85 per barrel, while Brent futures were down 0.3 per cent&nbsp;at $64.21 per barrel.

In the currency market, the dollar maintained a firm tone on Monday, with the dollar index against a basket of major currencies standing at 97.715 and the euro changing hands at $1.1055, both little changed on the day.

Against the Japanese yen, the dollar was last traded at 108.60 yen, flat on the day.

Elsewhere, British pound traded at $1.3142, not far from a seven-month high of $1.3166 set on Thursday. Versus the euro, the currency hit a 2-1/2-year high of 84.07 pence per euro on Monday.

Sterling has been bolstered by expectations that Prime Minister Boris Johnson's Conservative Party will win an outright majority in the upcoming election on Thursday, thereby ending a hung parliament and political paralysis on Brexit.

Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US jobs data although regional gains were capped by concerns about China's economic slowdown due to the prolonged Sino-US trade war.

Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US jobs data although regional gains were capped by concerns about China's economic slowdown due to the prolonged Sino-US trade war. Japan's benchmark Nikkei added 0.4 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent, with Australian stocks and South Korea's KOSPI up 0.4 per cent and 0.3 per cent, respectively. China's Shanghai Composite stood flat and Hong Kong's Hang Seng rose 0.2 per cent. Wall Street rose to near record highs on Friday on the strong jobs data and some signs of optimism about the US-China trade talks, with the benchmark S&P 500 closing within 0.2 per cent of its peak set in late November. US job growth increased by the most in 10 months in November as the healthcare industry boosted hiring and production workers at General Motors returned to work after a strike, in the strongest sign that the world's largest economy is in no danger of stalling. "This economy is still climbing and shattering the records for longevity," said Chris Rupkey, chief financial economist at MUFG Union Bank. "Right now, the clouds of recession still remain well offshore despite troubled economies elsewhere in the world and a trade war." Top White House economic adviser Larry Kudlow said on Friday that a Dec. 15 deadline is still in place to impose a new round of US tariffs on Chinese consumer goods, but President Donald Trump likes where trade talks with China are going. Still, investors think things could change if trade tensions escalate further, especially if Trump goes ahead with the planned tariffs on some $156 billion worth of products from China in mid-December. The market has been largely working on the assumption that those tariffs, which cover several consumer products such as cellphones and toys, will be dropped or at least postponed, given that Washington and Beijing agreed in October to work on a trade deal. Meanwhile, China's exports shrank for the fourth consecutive month in November, sending shivers through a market already concerned about damage being done to global demand by the trade war. But growth in imports was seen as a possible sign that Beijing's stimulus efforts over the last two years were helping to stir demand. "Although the trade data did not have much impact, concerns about slowing growth and a lack of government stimulus are capping the Chinese shares' upside," said Naoki Tashiro, president of TS China Research. "Yet chip-related shares are doing well, suggesting investors are still positive on the outlook of Sino-US trade talks overall." US Treasury yields climbed on the strong employment report, with benchmark 10-year notes rising to 1.843 per cent. The Federal Reserve's Open Market Committee (FOMC) kicks off its two-day policy meeting on Tuesday. The central bank is expected to highlight the economy's resilience and keep interest rates on hold in the range of 1.50 per cent to 1.75 per cent. Analysts said the much better-than-expected jobs report offset mixed signals from recent economic data and validated the Fed's wait-and-see stance on interest rates after three "insurance cuts" this year. Oil prices retreated but hovered near recent peaks after OPEC and its allies agreed to deepen output cuts by 500,000 barrels per day in early 2020. US West Texas Intermediate (WTI) crude slipped 0.5 per cent to $58.92 per barrel, still not far from Friday's 2-1/2-month high of $59.85 per barrel, while Brent futures were down 0.3 per cent at $64.21 per barrel. In the currency market, the dollar maintained a firm tone on Monday, with the dollar index against a basket of major currencies standing at 97.715 and the euro changing hands at $1.1055, both little changed on the day. Against the Japanese yen, the dollar was last traded at 108.60 yen, flat on the day. Elsewhere, British pound traded at $1.3142, not far from a seven-month high of $1.3166 set on Thursday. Versus the euro, the currency hit a 2-1/2-year high of 84.07 pence per euro on Monday. Sterling has been bolstered by expectations that Prime Minister Boris Johnson's Conservative Party will win an outright majority in the upcoming election on Thursday, thereby ending a hung parliament and political paralysis on Brexit.

Asian shares buoyed by Wall St rally, but China worry caps gains

Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China.

The announcement added to trade uncertainty already stoked by the United States reimposing tariffs on Argentina and Brazil, threatening France with steep levies -- and warning China of possible new measures if ongoing talks fall through.

Trump, in Britain for a NATO summit, warned that efforts to resolve a trade dispute could wait until after next November's US election.

"I have no deadline," Trump told reporters upon his arrival.

"In some ways I like the idea of waiting until after the election for the China deal."

Trump's trade war with China and on-again-off-again attempts to reach a deal have destabilised markets and stoked geopolitical tensions.

'Another turn lower'&nbsp;

"The chances of a deal by December 15 just took another turn lower," said Markets.com analyst Neil Wilson.

"After weeks of making generally positive noises on a deal being very close, there is a real sense now that a deal is not so very near at all and markets need to reprice," Wilson added.

As recently as last week Trump boasted that he was in the "final throes" of negotiating "one of the most important deals in trade ever".

But Washington has since courted Chinese anger by expressing support for Hong Kong protesters.

Optimism that Beijing and Washington will eventually hammer out a partial agreement as part of a wider deal had supported equities for weeks, helping Wall Street to set numerous records.

Wine and cheese&nbsp;

But investor sentiment was dealt a blow on Monday when Trump said he would reinstate tariffs on steel and aluminium from Argentina and Brazil whom he accused of manipulating their currencies and hurting US farmers.

Later, officials warned they would also hit France with up to 100 per cent levies on $2.4 billion in goods, saying a French digital tax was discriminatory against US tech firms such as Google, Apple and Amazon.

Sparkling wine, yoghurt and Roquefort cheese could be affected as soon as next month, while US Trade Representative Robert Lighthizer warned his office was also considering similar moves against Austria, Italy, and Turkey.

On Tuesday, France vowed a "strong" response to any tariffs.

Oil prices were firmer ahead of a key meeting of OPEC and other major producers, which is expected to see them maintain output cuts into June, with speculation they could go on until the end of 2020.

Key figures around 1645 GMT&nbsp;

London - FTSE 100: DOWN 1.8 percent at 7,158.76 points (close)

Frankfurt - DAX 30: UP 0.2 percent at 12,989.29 (close)

Paris - CAC 40: DOWN 1.0 percent at 5,727.22 (close)

EURO STOXX 50: DOWN 0.4 percent at 3,610.99

New York - Dow: DOWN 1.4 percent at 27,392.08

Tokyo - Nikkei 225: DOWN 0.6 percent at 23,379.81 (close)

Hong Kong - Hang Seng: DOWN 0.2 percent at 26,391.30 (close)

Shanghai - Composite: UP 0.3 percent at 2,884.70 (close)

Euro/dollar: UP at $1.1085 from $1.1078 at 2145 GMT

Pound/dollar: UP at $1.3000 from $1.2939

Euro/pound: DOWN at 85.25 pence from 85.63

Dollar/yen: DOWN at 108.56 from 108.98 yen

Brent North Sea crude: UP 0.2 percent at $61.03 per barrel

West Texas Intermediate: UP 0.2 percent at $56.08&nbsp;

Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China. The announcement added to trade uncertainty already stoked by the United States reimposing tariffs on Argentina and Brazil, threatening France with steep levies -- and warning China of possible new measures if ongoing talks fall through.

Global equities mostly retreated Tuesday after US President Donald Trump warned there was no deadline for doing a trade deal with China. The announcement added to trade uncertainty already stoked by the United States reimposing tariffs on Argentina and Brazil, threatening France with steep levies -- and warning China of possible new measures if ongoing talks fall through. Trump, in Britain for a NATO summit, warned that efforts to resolve a trade dispute could wait until after next November's US election. "I have no deadline," Trump told reporters upon his arrival. "In some ways I like the idea of waiting until after the election for the China deal." Trump's trade war with China and on-again-off-again attempts to reach a deal have destabilised markets and stoked geopolitical tensions. 'Another turn lower' "The chances of a deal by December 15 just took another turn lower," said Markets.com analyst Neil Wilson. "After weeks of making generally positive noises on a deal being very close, there is a real sense now that a deal is not so very near at all and markets need to reprice," Wilson added. As recently as last week Trump boasted that he was in the "final throes" of negotiating "one of the most important deals in trade ever". But Washington has since courted Chinese anger by expressing support for Hong Kong protesters. Optimism that Beijing and Washington will eventually hammer out a partial agreement as part of a wider deal had supported equities for weeks, helping Wall Street to set numerous records. Wine and cheese But investor sentiment was dealt a blow on Monday when Trump said he would reinstate tariffs on steel and aluminium from Argentina and Brazil whom he accused of manipulating their currencies and hurting US farmers. Later, officials warned they would also hit France with up to 100 per cent levies on $2.4 billion in goods, saying a French digital tax was discriminatory against US tech firms such as Google, Apple and Amazon. Sparkling wine, yoghurt and Roquefort cheese could be affected as soon as next month, while US Trade Representative Robert Lighthizer warned his office was also considering similar moves against Austria, Italy, and Turkey. On Tuesday, France vowed a "strong" response to any tariffs. Oil prices were firmer ahead of a key meeting of OPEC and other major producers, which is expected to see them maintain output cuts into June, with speculation they could go on until the end of 2020. Key figures around 1645 GMT London - FTSE 100: DOWN 1.8 percent at 7,158.76 points (close) Frankfurt - DAX 30: UP 0.2 percent at 12,989.29 (close) Paris - CAC 40: DOWN 1.0 percent at 5,727.22 (close) EURO STOXX 50: DOWN 0.4 percent at 3,610.99 New York - Dow: DOWN 1.4 percent at 27,392.08 Tokyo - Nikkei 225: DOWN 0.6 percent at 23,379.81 (close) Hong Kong - Hang Seng: DOWN 0.2 percent at 26,391.30 (close) Shanghai - Composite: UP 0.3 percent at 2,884.70 (close) Euro/dollar: UP at $1.1085 from $1.1078 at 2145 GMT Pound/dollar: UP at $1.3000 from $1.2939 Euro/pound: DOWN at 85.25 pence from 85.63 Dollar/yen: DOWN at 108.56 from 108.98 yen Brent North Sea crude: UP 0.2 percent at $61.03 per barrel West Texas Intermediate: UP 0.2 percent at $56.08

Global stocks rattled after Donald Trump says no 'deadline' on US-China trade deal

<a href="https://www.wionews.com/business-economy/world-stocks-hold-near-one-week-low-195">World&nbsp;stocks</a>&nbsp;edged&nbsp;off&nbsp;their highest in almost two years on Tuesday, but kept record levels insight, following fresh signs that the United States and&nbsp;China&nbsp;were working to end a trade war dragging on the&nbsp;global&nbsp;economy.

China's Vice Premier Liu He,&nbsp;US&nbsp;Trade Representative Robert Lighthizer and&nbsp;US&nbsp;Treasury Secretary Steven Mnuchin held a phone call on issues&nbsp;related to a phase one trade agreement on Tuesday,&nbsp;China&nbsp;said.

This, alongside a strong Hong Kong debut for Chinese e-commerce giant <a href="https://www.wionews.com/business-economy/alibaba-launches-134-billion-hong-kong-listing-to-fund-expansion-261906">Alibaba</a>, is the&nbsp;world's largest share sale this year, boosted&nbsp;markets&nbsp;in Asia.

MSCI's 49-country main&nbsp;world&nbsp;share index, touched its highest level in almost two years, before drifting lower as the European session wore on. Still, it remained less than 1 per cent&nbsp;off&nbsp;record&nbsp;highs&nbsp;hit in early 2018.

European&nbsp;stocks, with the exception of London's FTSE, were broadly lower and&nbsp;US&nbsp;equity futures also inched down as a note of caution returned after a strong rally fuelled by trade talk hopes.

The pan-European STOXX 600 remained within striking distance of four-year&nbsp;highs.

"The outlook is positive as&nbsp;world&nbsp;trade angst is the biggest negative out there, especially when you throw in loose policy, the pick-up yields for equities versus bonds and the like," said Chris Bailey, European strategist at Raymond James in London.

"However, the residual issues&nbsp;are clear: The first is a reversal in&nbsp;world&nbsp;trade optimism, the second is that valuations become perceived as overstretched - this can easily happen given lackluster corporate earnings growth."

In Asia, Alibaba shares opened almost 7 per cent&nbsp;higher in Hong Kong than their issue price and at a small premium to pricing in New York. The listing has been seen as a vote of confidence in Hong Kong after months of anti-government protests that have rocked the financial hub.

A flurry of major acquisition activity has also supported sentiment in equity&nbsp;markets, with Global markets: World stocks edge off highs to await US-China progress agreeing to buy&nbsp;US&nbsp;jeweller Tiffany for $16.2 billion and Charles Schwab Corp set to purchase&nbsp;US&nbsp;discount brokerage TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion.

Still, it was the outcome of&nbsp;US-China&nbsp;trade talks that remained the key driver for&nbsp;world&nbsp;markets.

The&nbsp;US&nbsp;dollar gave up earlier gains as some of the optimism over an agreement faded, slipping from a two-week high of 109.205 yen hit during Asian trade.

The euro was also a touch firmer at $1.10150.

China's yuan - the currency most sensitive to the trade war - had risen to a one-week high of 7.0181 against the dollar, but was last trading at 7.0388.

"China&nbsp;and the&nbsp;US&nbsp;agreed on a framework to resolve their phase one issue, which is just a way of saying that they did admin work," said Sebastien Galy, senior macro strategist at Nordea Asset Management.

The United States has imposed tariffs on Chinese goods in a 16-month dispute over trade practices that the US&nbsp;government says are unfair.&nbsp;China&nbsp;has responded with its own tariffs on&nbsp;US&nbsp;goods.

The next important date to watch is December&nbsp;15, when Washington is scheduled to impose even more tariffs on Chinese goods.

Safe-haven bond yields nudged back down, also reflecting the more cautious tone among investors.

The 10-year&nbsp;US&nbsp;Treasury yield was last down 2 basis points on the day at around 1.75 per cent.

Elsewhere, Bitcoin, the&nbsp;world's biggest cryptocurrency, dipped to $7,065, holding above six-month lows hit on Monday after the People's Bank of&nbsp;China&nbsp;launched a fresh crackdown on cryptocurrencies.

US&nbsp;crude was flat at $58 a barrel. Brent crude was little changed at $63.71 per barrel.

World stocks edged off their highest in almost two years on Tuesday, but kept record levels insight, following fresh signs that the United States and China were working to end a trade war dragging on the global economy.

World stocks edged off their highest in almost two years on Tuesday, but kept record levels insight, following fresh signs that the United States and China were working to end a trade war dragging on the global economy. China's Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin held a phone call on issues related to a phase one trade agreement on Tuesday, China said. This, alongside a strong Hong Kong debut for Chinese e-commerce giant Alibaba, is the world's largest share sale this year, boosted markets in Asia. MSCI's 49-country main world share index, touched its highest level in almost two years, before drifting lower as the European session wore on. Still, it remained less than 1 per cent off record highs hit in early 2018. European stocks, with the exception of London's FTSE, were broadly lower and US equity futures also inched down as a note of caution returned after a strong rally fuelled by trade talk hopes. The pan-European STOXX 600 remained within striking distance of four-year highs. "The outlook is positive as world trade angst is the biggest negative out there, especially when you throw in loose policy, the pick-up yields for equities versus bonds and the like," said Chris Bailey, European strategist at Raymond James in London. "However, the residual issues are clear: The first is a reversal in world trade optimism, the second is that valuations become perceived as overstretched - this can easily happen given lackluster corporate earnings growth." In Asia, Alibaba shares opened almost 7 per cent higher in Hong Kong than their issue price and at a small premium to pricing in New York. The listing has been seen as a vote of confidence in Hong Kong after months of anti-government protests that have rocked the financial hub. A flurry of major acquisition activity has also supported sentiment in equity markets, with Global markets: World stocks edge off highs to await US-China progress agreeing to buy US jeweller Tiffany for $16.2 billion and Charles Schwab Corp set to purchase US discount brokerage TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion. Still, it was the outcome of US-China trade talks that remained the key driver for world markets. The US dollar gave up earlier gains as some of the optimism over an agreement faded, slipping from a two-week high of 109.205 yen hit during Asian trade. The euro was also a touch firmer at $1.10150. China's yuan - the currency most sensitive to the trade war - had risen to a one-week high of 7.0181 against the dollar, but was last trading at 7.0388. "China and the US agreed on a framework to resolve their phase one issue, which is just a way of saying that they did admin work," said Sebastien Galy, senior macro strategist at Nordea Asset Management. The United States has imposed tariffs on Chinese goods in a 16-month dispute over trade practices that the US government says are unfair. China has responded with its own tariffs on US goods. The next important date to watch is December 15, when Washington is scheduled to impose even more tariffs on Chinese goods. Safe-haven bond yields nudged back down, also reflecting the more cautious tone among investors. The 10-year US Treasury yield was last down 2 basis points on the day at around 1.75 per cent. Elsewhere, Bitcoin, the world's biggest cryptocurrency, dipped to $7,065, holding above six-month lows hit on Monday after the People's Bank of China launched a fresh crackdown on cryptocurrencies. US crude was flat at $58 a barrel. Brent crude was little changed at $63.71 per barrel.

Global markets: World stocks edge off highs to await US-China progress

Oil shed some of its massive gains on Tuesday (September 17) as the <a href="https://www.wionews.com/world/dont-need-middle-east-oil-gas-but-will-help-our-allies-says-trump-after-attacks-on-saudi-arabias-aramco-250005">United States</a> flagged the possible release of crude reserves, but the threat of military action over the <a href="https://www.wionews.com/business-economy/international-oil-prices-surge-nearly-20-after-attack-on-saudi-oil-facilities-249978">attacks on Saudi oil</a> facilities kept prices elevated and stocks under pressure.

While equity market losses have not been large, shaky investor confidence continued to support safe-haven assets, with gold edging higher on Tuesday and Treasury prices rising.

Investors otherwise broadly remained on the sidelines ahead of an expected interest rate cut from the US&nbsp;Federal Reserve on Wednesday (September 18) and the next round of <a href="https://www.wionews.com/world/iran-dismisses-us-claim-it-was-behind-saudi-oil-attacks-says-ready-for-war-249810">US</a>-China trade talks on Thursday.

The benchmark Nikkei average added 0.2 per cent&nbsp;to 22,021.86 in mid-morning trade to mark its highest level since May 7, as soaring oil prices triggered by attacks on Saudi oil facilities boosted oil and gas-related companies.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.6 per&nbsp;cent.

Chinese shares fell 0.85 per cent, while Australian shares were down 0.27 per cent.

Brent crude, the international benchmark, fell 1.78 per cent to&nbsp;$67.79 per barrel in Asia on Tuesday.

On Monday Brent surged by 14.6 per cent for&nbsp;its biggest one-day percentage gain since at least 1988.

Saturday's attack on Saudi oil facilities has halved the kingdom's oil output, creating the biggest disruption to global oil supplies in absolute terms since the overthrow of the Iranian Shah in 1979, International Energy Agency data show.

In South Korea, stocks opened slightly lower with the Korea Composite Stock Price Index (KOSPI) down 3.14 points or 0.15 per cent to 2,059.08 points as of 0200 GMT.

China stocks fell on Tuesday as Beijing kept a key money rate unchanged even as recent readings pointed to further downward pressure on the world's second-largest economy.

In Hong Kong, stocks extended falls after credit rating agency Moody's downgraded the island city's outlook.

The Hang Seng index dropped 1.0 per cent, to 26,849.72, while the Hong Kong China Enterprises Index lost 1.0 per cent, to 10,520.42.

Oil shed some of its massive gains on Tuesday (September 17) as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure.

Oil shed some of its massive gains on Tuesday (September 17) as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure. While equity market losses have not been large, shaky investor confidence continued to support safe-haven assets, with gold edging higher on Tuesday and Treasury prices rising. Investors otherwise broadly remained on the sidelines ahead of an expected interest rate cut from the US Federal Reserve on Wednesday (September 18) and the next round of US-China trade talks on Thursday. The benchmark Nikkei average added 0.2 per cent to 22,021.86 in mid-morning trade to mark its highest level since May 7, as soaring oil prices triggered by attacks on Saudi oil facilities boosted oil and gas-related companies. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.6 per cent. Chinese shares fell 0.85 per cent, while Australian shares were down 0.27 per cent. Brent crude, the international benchmark, fell 1.78 per cent to $67.79 per barrel in Asia on Tuesday. On Monday Brent surged by 14.6 per cent for its biggest one-day percentage gain since at least 1988. Saturday's attack on Saudi oil facilities has halved the kingdom's oil output, creating the biggest disruption to global oil supplies in absolute terms since the overthrow of the Iranian Shah in 1979, International Energy Agency data show. In South Korea, stocks opened slightly lower with the Korea Composite Stock Price Index (KOSPI) down 3.14 points or 0.15 per cent to 2,059.08 points as of 0200 GMT. China stocks fell on Tuesday as Beijing kept a key money rate unchanged even as recent readings pointed to further downward pressure on the world's second-largest economy. In Hong Kong, stocks extended falls after credit rating agency Moody's downgraded the island city's outlook. The Hang Seng index dropped 1.0 per cent, to 26,849.72, while the Hong Kong China Enterprises Index lost 1.0 per cent, to 10,520.42.

Oil falls more than 1 per cent as market awaits response to Saudi oil attacks

Asian stocks gained on Friday, joining a global trend as investors took heart from firm US economic data plans hopes a meeting between US and Chinese negotiators next month signals an easing in trade tensions.

The improvement in investors' appetite for risk reduced demand for safe havens such as government bonds and the yen, however.

In early European trade, the pan-region Euro Stoxx 50 futures and German DAX futures were little changed, while Britain's FTSE futures inched down 0.1 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 per cent, putting it on track for a 2.2 per cent weekly gain - which would make it the best week since mid-June.

The Shanghai Composite Index edged up 0.1 per cent. Hong Kong's Hang Seng was up 0.2 per cent, with some earlier gains trimmed after rating agency Fitch downgraded the city's credit rating following months of unrest.

Australian stocks gained 0.5 per cent, South Korea's KOSPI climbed 0.1 per cent and Japan's Nikkei advanced 0.4 per cent.

Global equity markets welcomed news that the United States and China agreed on Thursday to hold high-level talks early in October, raising hopes for substantial progress in de-escalating their long, bitter trade conflict.

Upbeat US data on Thursday also helped sentiment.

US private payrolls increased in August at their fastest pace in four months, according to ADP National Employment Report. Separately the US services industry rebounded last month to its fastest expansion since February, according to the Institute for Supply Management's non-manufacturing purchasing managers index (PMI).

"The strong US data are the main part of the latest turn in markets as they are key factors impacting equities and US yields, therefore determining how long this 'risk on' phase will last," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

On Thursday, the Dow added 1.4 per cent, the S&amp;P 500 climbed 1.3 per cent and Nasdaq rose 1.75 per cent.

Ishikawa at IG Securities said a US August jobs report ou later in the global day "will get more attention than usual as it could further fuel the risk-on phase, which in turn would boost the dollar."

The non-farm payroll report is expected to show an increase of 158,000 and the unemployment rate holding steady at 3.7 per cent.

The dollar stood at 107.000 yen after climbing to a one-month high of 107.235 overnight. The greenback has gained about 0.7 per cent against the safe-haven yen.

The pound hovered near a six-week peak of $1.2353 scaled the previous day on hopes that Britain could avoid exiting the European Union without a deal.

Sterling had fallen to a three-year low of $1.1959 midweek after British Prime Minister Boris Johnson stoked fears of a no-deal Brexit.

The euro was steady at $1.1039 after rising 0.5 per cent overnight, when it was lifted by sterling's bounce.

The dollar index against a basket of six major currencies was little changed at 98.369 after pulling back from a one-week low of 98.085 the previous day, thanks to a rise in US Treasury yields.

US Treasuries fell in price and their yields rebounded from multi-year lows as investors moved out of safety assets into equities.

The 10-year Treasury yield was at 1.536 per cent, having risen from a three-year trough of 1.428 per cent plumbed midweek as soft economic data and Sino-US trade worries stoked global recession concerns.

"The recent panic in markets was excessive. And if a sustained reversal of fragile sentiment gets under way, US equities will test fresh record highs and a corresponding drop in bond prices will present an good bargain hunting opportunity," said Eiichiro Tani, chief strategist at Daiwa Securities.

Japan's 10-year government bond yield climbed 2.5 basis points to minus 0.250 per cent, putting some distance between a three-year low of minus 0.295% set earlier this week.

The Australian dollar traded close to a one-month peak of $0.6830. It has gained more than 1 per cent this week amid the thaw in US-China trade tensions and tempered prospects for an immediate interest rate cut by the Reserve Bank of Australia.

Brent crude oil futures were little changed at $60.97 per barrel, losing some steam after posting strong gains over the past two sessions.

Brent had climbed to a one-month peak of $62.40 per barrel on Thursday on a decline in US crude inventories and eased trade war worries.

Asian stocks gained on Friday, joining a global trend as investors took heart from firm US economic data plans hopes a meeting between US and Chinese negotiators next month signals an easing in trade tensions.

Asian stocks gained on Friday, joining a global trend as investors took heart from firm US economic data plans hopes a meeting between US and Chinese negotiators next month signals an easing in trade tensions. The improvement in investors' appetite for risk reduced demand for safe havens such as government bonds and the yen, however. In early European trade, the pan-region Euro Stoxx 50 futures and German DAX futures were little changed, while Britain's FTSE futures inched down 0.1 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.4 per cent, putting it on track for a 2.2 per cent weekly gain - which would make it the best week since mid-June. The Shanghai Composite Index edged up 0.1 per cent. Hong Kong's Hang Seng was up 0.2 per cent, with some earlier gains trimmed after rating agency Fitch downgraded the city's credit rating following months of unrest. Australian stocks gained 0.5 per cent, South Korea's KOSPI climbed 0.1 per cent and Japan's Nikkei advanced 0.4 per cent. Global equity markets welcomed news that the United States and China agreed on Thursday to hold high-level talks early in October, raising hopes for substantial progress in de-escalating their long, bitter trade conflict. Upbeat US data on Thursday also helped sentiment. US private payrolls increased in August at their fastest pace in four months, according to ADP National Employment Report. Separately the US services industry rebounded last month to its fastest expansion since February, according to the Institute for Supply Management's non-manufacturing purchasing managers index (PMI). "The strong US data are the main part of the latest turn in markets as they are key factors impacting equities and US yields, therefore determining how long this 'risk on' phase will last," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo. On Thursday, the Dow added 1.4 per cent, the S&P 500 climbed 1.3 per cent and Nasdaq rose 1.75 per cent. Ishikawa at IG Securities said a US August jobs report ou later in the global day "will get more attention than usual as it could further fuel the risk-on phase, which in turn would boost the dollar." The non-farm payroll report is expected to show an increase of 158,000 and the unemployment rate holding steady at 3.7 per cent. The dollar stood at 107.000 yen after climbing to a one-month high of 107.235 overnight. The greenback has gained about 0.7 per cent against the safe-haven yen. The pound hovered near a six-week peak of $1.2353 scaled the previous day on hopes that Britain could avoid exiting the European Union without a deal. Sterling had fallen to a three-year low of $1.1959 midweek after British Prime Minister Boris Johnson stoked fears of a no-deal Brexit. The euro was steady at $1.1039 after rising 0.5 per cent overnight, when it was lifted by sterling's bounce. The dollar index against a basket of six major currencies was little changed at 98.369 after pulling back from a one-week low of 98.085 the previous day, thanks to a rise in US Treasury yields. US Treasuries fell in price and their yields rebounded from multi-year lows as investors moved out of safety assets into equities. The 10-year Treasury yield was at 1.536 per cent, having risen from a three-year trough of 1.428 per cent plumbed midweek as soft economic data and Sino-US trade worries stoked global recession concerns. "The recent panic in markets was excessive. And if a sustained reversal of fragile sentiment gets under way, US equities will test fresh record highs and a corresponding drop in bond prices will present an good bargain hunting opportunity," said Eiichiro Tani, chief strategist at Daiwa Securities. Japan's 10-year government bond yield climbed 2.5 basis points to minus 0.250 per cent, putting some distance between a three-year low of minus 0.295% set earlier this week. The Australian dollar traded close to a one-month peak of $0.6830. It has gained more than 1 per cent this week amid the thaw in US-China trade tensions and tempered prospects for an immediate interest rate cut by the Reserve Bank of Australia. Brent crude oil futures were little changed at $60.97 per barrel, losing some steam after posting strong gains over the past two sessions. Brent had climbed to a one-month peak of $62.40 per barrel on Thursday on a decline in US crude inventories and eased trade war worries.

Asia shares rise on trade talks hope, firm US data; safe havens sold

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.38%, Singapore shares hit eight-month lows, while Japan's Nikkei shed 0.44%.

On Wall Street, the S&amp;P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But U.S. stock futures lost 0.4% in Asia.

Bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 per cent and minus 0.716 per cent on Wednesday.

Inversion remains a prominent feature across the US&nbsp;yield curve, where long-dated yields are below short-dated ones, an unsettling sign as yield curve inversions have been a reliable leading indicator of future US recessions.

Italy's 10-year bond yield briefly fell below 1% for the first time ever.&nbsp;

The rush to buy Italian debt, which carries higher yields than the 'core' eurozone countries, was in part prompted by growing hopes that a new government will soon be formed in Rome and a new election averted.

In Asia, the 10-year Japanese government bond yield dipped 1 basis point to minus 0.285%, just above its record low of minus 0.300% touched in 2016.

"Falls in global bond yields reflect growing concerns that long-term global growth is slowing down on U.S.-China tensions and worries over subsequent global supply chain disruptions," said Tomoo Kinoshita, global market strategist at Invesco Asset Management in Tokyo.

"Stock markets, on the other hand, are supported in the near-term by hopes of more stimulus, notably from the Federal Reserve and the European Central Bank," he said.

The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further.

The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and December 15.

That means products such as smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear will be levied from next month, raising worries about US consumption, one of the few remaining bright spots in the world economy.

The precious metal markets highlighted investors' quest to buy safer assets.

Gold rose 0.17% to $1,541.3 per ounce, near six-year highs of $1,556.1 set earlier in the week while silver extended its bull run and rose 0.85% to fetch $18.32 per ounce, edging near its 2017 peak.

Sharp falls in bond yields, however, have some investors worried that the recent rally in bond prices may have gone too far.

The 30-year U.S. bond yield, now at 1.921%, has fallen 60 basis points so far this month, to slip below dividend yield of U.S. shares, which stood at 2.04%.

"Yields may have fallen to unjustifiable levels even if one bets on a long-term stagnation in the global economy. And when we had a major bond correction in Europe four years ago, the adjustment was quite sharp," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo.

In the currency market, the yen gained 0.2% to 105.90 per dollar while the New Zealand dollar slipped 0.4% to four-year lows on grim domestic business sentiment data.

The euro was steady at $1.1084.

The MSCI emerging market currency index is at its lowest levels since mid-November, having fallen 0.9% so far this week and on course to mark its biggest monthly fall in more than seven years driven by worries about a global slowdown.

The British pound licked its wounds at $1.2200, having slumped 0.61% the previous day as the most serious UK political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's parliament for more than a month before Brexit.

The move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his government, and possibly an election.

"From an economic point of view, actively pursuing a no-deal Brexit through suspending parliament is tantamount to actively pursuing a recession," said Seema Shah, Chief Strategist, Principal Global Investors in London.

Concerns about Brexit are already taking a toll on Europe, with the recent export slump in Germany driven mainly by weaker sales to Britain rather than the broader trade war.

Oil prices held firm after a gain of nearly 2% in the previous session as a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand.

In Asia Brent crude futures fell 0.1% to $60.43 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.18% to $55.88 per barrel.

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours.

Global bond yields flirted with record lows while stocks struggled to recover on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.38%, Singapore shares hit eight-month lows, while Japan's Nikkei shed 0.44%. On Wall Street, the S&P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But U.S. stock futures lost 0.4% in Asia. Bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 per cent and minus 0.716 per cent on Wednesday. Inversion remains a prominent feature across the US yield curve, where long-dated yields are below short-dated ones, an unsettling sign as yield curve inversions have been a reliable leading indicator of future US recessions. Italy's 10-year bond yield briefly fell below 1% for the first time ever. The rush to buy Italian debt, which carries higher yields than the 'core' eurozone countries, was in part prompted by growing hopes that a new government will soon be formed in Rome and a new election averted. In Asia, the 10-year Japanese government bond yield dipped 1 basis point to minus 0.285%, just above its record low of minus 0.300% touched in 2016. "Falls in global bond yields reflect growing concerns that long-term global growth is slowing down on U.S.-China tensions and worries over subsequent global supply chain disruptions," said Tomoo Kinoshita, global market strategist at Invesco Asset Management in Tokyo. "Stock markets, on the other hand, are supported in the near-term by hopes of more stimulus, notably from the Federal Reserve and the European Central Bank," he said. The two major central banks are expected to cut rates next month, while many investors believe the Bank of Japan could join the fray if market sentiment weakens further. The Trump administration on Wednesday made official its extra 5% tariff on $300 billion in Chinese imports and set collection dates of Sept. 1 and December 15. That means products such as smartwatches, Bluetooth headphones, flat panel televisions and many types of footwear will be levied from next month, raising worries about US consumption, one of the few remaining bright spots in the world economy. The precious metal markets highlighted investors' quest to buy safer assets. Gold rose 0.17% to $1,541.3 per ounce, near six-year highs of $1,556.1 set earlier in the week while silver extended its bull run and rose 0.85% to fetch $18.32 per ounce, edging near its 2017 peak. Sharp falls in bond yields, however, have some investors worried that the recent rally in bond prices may have gone too far. The 30-year U.S. bond yield, now at 1.921%, has fallen 60 basis points so far this month, to slip below dividend yield of U.S. shares, which stood at 2.04%. "Yields may have fallen to unjustifiable levels even if one bets on a long-term stagnation in the global economy. And when we had a major bond correction in Europe four years ago, the adjustment was quite sharp," said Yoshinori Shigemi, global market strategist at JPMorgan Asset Management in Tokyo. In the currency market, the yen gained 0.2% to 105.90 per dollar while the New Zealand dollar slipped 0.4% to four-year lows on grim domestic business sentiment data. The euro was steady at $1.1084. The MSCI emerging market currency index is at its lowest levels since mid-November, having fallen 0.9% so far this week and on course to mark its biggest monthly fall in more than seven years driven by worries about a global slowdown. The British pound licked its wounds at $1.2200, having slumped 0.61% the previous day as the most serious UK political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's parliament for more than a month before Brexit. The move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his government, and possibly an election. "From an economic point of view, actively pursuing a no-deal Brexit through suspending parliament is tantamount to actively pursuing a recession," said Seema Shah, Chief Strategist, Principal Global Investors in London. Concerns about Brexit are already taking a toll on Europe, with the recent export slump in Germany driven mainly by weaker sales to Britain rather than the broader trade war. Oil prices held firm after a gain of nearly 2% in the previous session as a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand. In Asia Brent crude futures fell 0.1% to $60.43 a barrel while U.S. West Texas Intermediate (WTI) crude gained 0.18% to $55.88 per barrel.

Global markets: Bonds reign supreme, equities struggle on recession, Brexit fears

World of fake-branded bars: How forgery crisis is slipping dirty gold into global markets

Asian shares sank on Monday as the latest salvos in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbour of sovereign bonds and gold, while slugging emerging market currencies.

Asian shares sank on Monday as the latest salvos in the Sino-US trade war shook confidence in the world economy and sent investors steaming to the safe harbour of sovereign bonds and gold, while slugging emerging market currencies. Global stocks looked set to follow Asia's slide, with E-Mini futures for the S&P 500 falling 0.7%, and EUROSTOXX 50 futures down 1.1%. Yields on benchmark 10-year Treasury debt dropped to their lowest since mid-2016, while gold hit its highest since April 2013 as risk was shunned. On Friday, US President Donald Trump announced an additional duty on some $550 billion of targeted Chinese goods, hours after China unveiled retaliatory tariffs on $75 billion worth of US goods. China's onshore yuan fell 0.6% to new 11-year lows. But there was some relief that the central bank fixed the official midpoint at a relatively steady 7.0570 per dollar when it had been trading as weak as 7.1850 offshore, countering concerns Beijing would let the currency slide to keep exports competitive amid mounting US tariffs. MSCI's broadest index of Asia-Pacific shares outside Japan shed 2.0%, and Australia 1.5%. Japan's Nikkei lost 2.1%, while Shanghai blue chips fell 1.2%. "Downside risks are increasing for both the global economy and markets," said Mark Haefele, global chief investment officer at UBS. "As a result, we are reducing risk in our portfolios by moving to an underweight in equities to lower our exposure to political uncertainty." "We continue to favour carry strategies in credit and foreign exchange markets, which benefit from central bank easing in a low-growth environment." Trump's new tariff measures were announced after US markets closed on Friday. But Wall Street had nose-dived earlier in the session after Trump said US companies should "immediately start looking for an alternative to China", in response to Beijing's latest retaliation. At the G7 meeting in France over the weekend, Trump caused some confusion by indicating he may have had second thoughts on the tariffs. But the White House said on Sunday that Trump wished he had raised tariffs on Chinese goods even higher last week, even as he signalled he did not plan to follow through with a demand that US firms close operations in China. Trump is now set to hold a joint news conference with French President Emmanuel Macron later on Monday. The latest trade escalation overshadowed a pledge by Federal Reserve Chair Jerome Powell to "act as appropriate" to keep the US economy healthy, although he stopped short of committing to rapid-fire rate cuts. The markets clearly believe the Fed will have to act more aggressively and are fully priced for at least a quarter-point cut in September and more than 120 basis points of easing by the end of 2020. "Trump shows no signs of moderating his destructive trade policies," said JPMorgan analyst Adam Crisafulli. "Central banks can't fully ameliorate the downside of a global trade war," he added. "Companies will enter lockdown mode in terms of spending, and eventually hiring, until at least the November 2020 election amid all the uncertainty."

Global Markets: Shares skid as trade war deepens, fuels bond rush

<a href="https://www.wionews.com/world/us-designates-china-a-currency-manipulator-as-yuan-hits-record-low-240948">China's tumbling yuan</a> steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in US&nbsp;trade tensions.

The <a href="https://www.wionews.com/business-economy/chinese-yuan-falls-to-weakest-level-against-the-dollar-since-2010-240743">currency has slumped 2.3% over the past three days</a> and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan's value has become a new front in the US-China trade war.

On Monday, US&nbsp;Treasury Secretary Steven Mnuchin said Washington would designate China a currency manipulator, its first such move since 1994, sending both the onshore and offshore yuan to record lows.

The People's Bank of China's firmer-than-expected yuan fixing on Tuesday helped pull the currency away from these lows as did an announced bond sale in the offshore market, seen as signs authorities wanted to stem the rout.

"(China is) seizing the narrative on the renminbi," said Andy Wong, multi-asset senior investment manager at Pictet Asset Management in Hong Kong.

"Rather than being pressured to signal that 7 is just a psychological level, they are ... saying this is something that we control rather than markets or whatever other pressures."

The yuan dropped to the record low in offshore trade early in Asia, after Mnuchin's announcement, before bouncing to steady around 7.0642 per dollar.

The PBOC fixed the yuan midpoint, which sets the point around which the currency is allowed to trade, at 6.9683 per dollar, firmer than market expectations.

The PBOC's announcement of a sale of 30 billion yuan&nbsp;worth of yuan-denominated bills in Hong Kong also suggested the central bank was soaking up cash to prevent speculative short-selling.

The currency opened onshore trade at 7.0699 per dollar, then firmed to 7.0515 by 0310 GMT. The offshore yuan fell to as low as 7.1397 per dollar before coming back as far as 7.0596.

However, the currency's stabilisation on Tuesday was not enough assuage markets, but did halt their slide by midsession.

The Shanghai Composite Index fell over 2% to 2,733.92, touching its lowest level since February, while Hong Kong's Hang Seng Index hit it's lowest since January before paring some of the losses.

"Renminbi weakening pressure added uncertainty to the stock market and added pressure especially for financials and property companies," said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong

"The PBOC is sending signals that it would like to mitigate RMB depreciation – by fixing dollar/yuan somewhat low, and by announcing to issue offshore bills," said Frances Cheung, a strategist at Westpac.

Chinese policy sources had told Reuters that the currency was allowed to slide so markets could factor in concerns over the tussle between the world's two largest economies, especially after President Donald Trump announced new tariffs last week.

"We think the most important takeaway is the risk of US-China trade war escalating further has increased," UBS Economist Tao Wang said in a note to clients.

"As the trade war escalates further and depreciation pressure on the renminbi intensifies, we expect the dollar/yuan to trade beyond 7 more often in the rest of the year."

China's tumbling yuan steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in US trade tensions.

China's tumbling yuan steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in US trade tensions. The currency has slumped 2.3% over the past three days and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan's value has become a new front in the US-China trade war. On Monday, US Treasury Secretary Steven Mnuchin said Washington would designate China a currency manipulator, its first such move since 1994, sending both the onshore and offshore yuan to record lows. The People's Bank of China's firmer-than-expected yuan fixing on Tuesday helped pull the currency away from these lows as did an announced bond sale in the offshore market, seen as signs authorities wanted to stem the rout. "(China is) seizing the narrative on the renminbi," said Andy Wong, multi-asset senior investment manager at Pictet Asset Management in Hong Kong. "Rather than being pressured to signal that 7 is just a psychological level, they are ... saying this is something that we control rather than markets or whatever other pressures." The yuan dropped to the record low in offshore trade early in Asia, after Mnuchin's announcement, before bouncing to steady around 7.0642 per dollar. The PBOC fixed the yuan midpoint, which sets the point around which the currency is allowed to trade, at 6.9683 per dollar, firmer than market expectations. The PBOC's announcement of a sale of 30 billion yuan worth of yuan-denominated bills in Hong Kong also suggested the central bank was soaking up cash to prevent speculative short-selling. The currency opened onshore trade at 7.0699 per dollar, then firmed to 7.0515 by 0310 GMT. The offshore yuan fell to as low as 7.1397 per dollar before coming back as far as 7.0596. However, the currency's stabilisation on Tuesday was not enough assuage markets, but did halt their slide by midsession. The Shanghai Composite Index fell over 2% to 2,733.92, touching its lowest level since February, while Hong Kong's Hang Seng Index hit it's lowest since January before paring some of the losses. "Renminbi weakening pressure added uncertainty to the stock market and added pressure especially for financials and property companies," said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong "The PBOC is sending signals that it would like to mitigate RMB depreciation – by fixing dollar/yuan somewhat low, and by announcing to issue offshore bills," said Frances Cheung, a strategist at Westpac. Chinese policy sources had told Reuters that the currency was allowed to slide so markets could factor in concerns over the tussle between the world's two largest economies, especially after President Donald Trump announced new tariffs last week. "We think the most important takeaway is the risk of US-China trade war escalating further has increased," UBS Economist Tao Wang said in a note to clients. "As the trade war escalates further and depreciation pressure on the renminbi intensifies, we expect the dollar/yuan to trade beyond 7 more often in the rest of the year."

China's yuan steadies but stocks plunge as trade tensions grow

Markets registered biggest fall of 2019 yesterday. Weakness in global markets pulling down stocks. Sensex, Nifty down by around 0.5% in morning trade. Watch this video to know more.

Indian markets continue downward March

Asian equities suffered fresh losses, the dollar rose and gold retreated Wednesday after top Federal Reserve officials dented hopes for a big interest rate cut next month, while traders are also fretting over this week's meeting between Donald Trump and Xi Jinping.

Adding to the downward pressure were concerns about worsening tensions between the US and Iran, though a drop in US stockpiles boosted oil prices.

Global markets had been on a healthy rally for more than a week after Trump hailed phone talks with his Chinese counterpart and said they would meet to discuss their trade war on the sidelines of the G20 summit in Osaka.

That coincided with a dovish lean from the US central bank that raised expectations that it would soon announce its first rate reduction for more than a decade.

However, optimism took a hit Tuesday after Fed boss Jerome Powell warned about the outlook for the US economy but said policymakers would not "overreact" to recent data.&nbsp;

Also Tuesday, St Louis Fed president James Bullard, considered a key dove on the board, told Bloomberg a cut of 50 basis points -- which many investors had been hoping for -- would be excessive.

The remarks hit equities with Wall Street's three main indexes sharply lower and the dollar, which has come under heavy pressure of late, bounced back against its major peers and other higher-yielding but riskier currencies.

"Bullard... dashed the hopes of many investors who were expecting the Fed to kick-start this easing cycle with a bang," said Edward Moya, senior market analyst at OANDA. "With the most dovish member taking a 50-basis point cut off the table, the dollar surged as equities tumbled."

Oil prices rally

The weaker dollar put a cap on gold's rally, with the yellow metal's safe-haven status in times of turmoil unable to stop it sinking from six-year highs.

Investors are keeping their focus on the planned meeting between Trump and Xi in Japan, though the US side dampened expectations for a deal between the two, saying the talks would set out a path for an agreement.

However, officials did say they were willing to hold off hiking tariffs on more Chinese goods, Bloomberg News reported.&nbsp;

Still, observers expect the issue to continue for some time.

"The US-China trade war stalemate is likely to continue as political considerations reign supreme," said brokerage T Rowe Price.

"With President Trump facing re-election in 2020, he may want to put off any agreement until next year, while China may want to deny President Trump a trade success to damage his re-election prospects, allowing Beijing to negotiate with his successor."

Crude surged after data showed a 7.55-million-barrel decline in US inventories, with Iran tensions also buoying the market.

"Oil prices went ballistic" after the report from industry group the American Petroleum Institute, said Stephen Innes of Vanguard Markets. "This is a strong signal for the energy market."

Asian equities suffered fresh losses, the dollar rose and gold retreated Wednesday after top Federal Reserve officials dented hopes for a big interest rate cut next month, while traders are also fretting over this week's meeting between Donald Trump and Xi Jinping.

Asian equities suffered fresh losses, the dollar rose and gold retreated Wednesday after top Federal Reserve officials dented hopes for a big interest rate cut next month, while traders are also fretting over this week's meeting between Donald Trump and Xi Jinping. Adding to the downward pressure were concerns about worsening tensions between the US and Iran, though a drop in US stockpiles boosted oil prices. Global markets had been on a healthy rally for more than a week after Trump hailed phone talks with his Chinese counterpart and said they would meet to discuss their trade war on the sidelines of the G20 summit in Osaka. That coincided with a dovish lean from the US central bank that raised expectations that it would soon announce its first rate reduction for more than a decade. However, optimism took a hit Tuesday after Fed boss Jerome Powell warned about the outlook for the US economy but said policymakers would not "overreact" to recent data. Also Tuesday, St Louis Fed president James Bullard, considered a key dove on the board, told Bloomberg a cut of 50 basis points -- which many investors had been hoping for -- would be excessive. The remarks hit equities with Wall Street's three main indexes sharply lower and the dollar, which has come under heavy pressure of late, bounced back against its major peers and other higher-yielding but riskier currencies. "Bullard... dashed the hopes of many investors who were expecting the Fed to kick-start this easing cycle with a bang," said Edward Moya, senior market analyst at OANDA. "With the most dovish member taking a 50-basis point cut off the table, the dollar surged as equities tumbled." Oil prices rally The weaker dollar put a cap on gold's rally, with the yellow metal's safe-haven status in times of turmoil unable to stop it sinking from six-year highs. Investors are keeping their focus on the planned meeting between Trump and Xi in Japan, though the US side dampened expectations for a deal between the two, saying the talks would set out a path for an agreement. However, officials did say they were willing to hold off hiking tariffs on more Chinese goods, Bloomberg News reported. Still, observers expect the issue to continue for some time. "The US-China trade war stalemate is likely to continue as political considerations reign supreme," said brokerage T Rowe Price. "With President Trump facing re-election in 2020, he may want to put off any agreement until next year, while China may want to deny President Trump a trade success to damage his re-election prospects, allowing Beijing to negotiate with his successor." Crude surged after data showed a 7.55-million-barrel decline in US inventories, with Iran tensions also buoying the market. "Oil prices went ballistic" after the report from industry group the American Petroleum Institute, said Stephen Innes of Vanguard Markets. "This is a strong signal for the energy market."

Asian markets and gold drop, dollar boosted on Fed rate worries

Asian shares suffered a fresh bout of the shakes on Friday as tough words on trade from China's media drowned out upbeat news on the US economy and corporate earnings.

Shanghai stocks led the way into the red amid the growing fallout from President Donald Trump's move to block China's Huawei Technologies from buying vital American technology.

The sense of foreboding grew as the Communist Party's People's Daily used a frontpage commentary to evoke the patriotic spirit of past wars, saying the trade war would never bring China down.

"It is hard to get too excited as the news flows in the trade front points to an escalation rather than ease in tensions," said Rodrigo Catril, senior FX strategist at National Australia Bank.

"Many commentators are suggesting the decision on Huawei and other Chinese telecos effectively means the President has taken the 'nuclear option' and it has now moved towards a 'fully-fledged' tech war with China."

Shanghai blue chips fell 2.1 per cent, while the offshore yuan eased past 6.9400 per dollar for the first time since November, 2018.

MSCI's broadest index of Asia-Pacific shares outside Japan lost early gains to fall 0.7 per cent, leaving it at 15-week lows and down 2.6 per cent for the week.

Japan's Nikkei did manage to bounce 0.9 per cent, while the main Australian index climbed to an 11-year peak as higher commodity prices boosted miners.

But E-Mini futures for the S&amp;P 500 shed 0.36% and European stock futures pointed to opening losses.

Sentiment had been briefly soothed overnight by better US economic news, with US housing starts surprisingly strong and a welcome pickup in the Philadelphia Federal Reserve's manufacturing survey.

Upbeat results from Walmart burnished the outlook for retail spending, though the giant chain also warned that tariffs would raise prices for US consumers.

As the earnings season winds down, of the 457 S&amp;P 500 companies reporting about 75% have beaten profit expectations, according to Refinitiv data.

The Dow ended Thursday with gains of 0.84 per cent, while the S&amp;P 500 added 0.89 per cent and the Nasdaq 0.97 per cent.

Pound ground down

The chillier tone in Asia helped Treasuries recoup early losses as the session wore on, with the 10-year futures contract firming 7 ticks.

The US dollar lost a little of its shine on the safe-haven yen to stand at 109.64 from a top of 110.03. Against a basket of currencies, it was a shade softer at 96.824.

Yet the euro could make no ground and held at $1.1173, down 0.5% for the week so far.

Sterling was one of the worst performers as Britain's Prime Minister Theresa May battled to keep her Brexit deal, and her premiership, intact amid growing fears of a disorderly departure from the European Union. [GBP/]

The pound touched a three-month low of $1.2783 and was down a hefty 1.6% for the week so far.

Also under pressure was the Australian dollar, losing 1.5 per cent&nbsp;for the week to $0.6890 as investors piled into bets that interest rates would be cut in June.

The main mover in Asia was cyber currency Bitcoin which tumbled over 20 per cent&nbsp;at one stage for no discernible reason. It was last down 7 per cent.

In commodity markets, spot gold steadied at $1,287.34 per ounce as risk sentiment soured.

Oil futures firmed into a fourth session as rising tensions in the Middle East stoked fears of potential supply disruptions.&nbsp;

US&nbsp;crude was last up 14 cents at $63.01 a barrel, while Brent crude futures rose 12 cents to $72.74.

Asian shares suffered a fresh bout of the shakes on Friday as tough words on trade from China's media drowned out upbeat news on the US economy and corporate earnings.

Asian shares suffered a fresh bout of the shakes on Friday as tough words on trade from China's media drowned out upbeat news on the US economy and corporate earnings. Shanghai stocks led the way into the red amid the growing fallout from President Donald Trump's move to block China's Huawei Technologies from buying vital American technology. The sense of foreboding grew as the Communist Party's People's Daily used a frontpage commentary to evoke the patriotic spirit of past wars, saying the trade war would never bring China down. "It is hard to get too excited as the news flows in the trade front points to an escalation rather than ease in tensions," said Rodrigo Catril, senior FX strategist at National Australia Bank. "Many commentators are suggesting the decision on Huawei and other Chinese telecos effectively means the President has taken the 'nuclear option' and it has now moved towards a 'fully-fledged' tech war with China." Shanghai blue chips fell 2.1 per cent, while the offshore yuan eased past 6.9400 per dollar for the first time since November, 2018. MSCI's broadest index of Asia-Pacific shares outside Japan lost early gains to fall 0.7 per cent, leaving it at 15-week lows and down 2.6 per cent for the week. Japan's Nikkei did manage to bounce 0.9 per cent, while the main Australian index climbed to an 11-year peak as higher commodity prices boosted miners. But E-Mini futures for the S&P 500 shed 0.36% and European stock futures pointed to opening losses. Sentiment had been briefly soothed overnight by better US economic news, with US housing starts surprisingly strong and a welcome pickup in the Philadelphia Federal Reserve's manufacturing survey. Upbeat results from Walmart burnished the outlook for retail spending, though the giant chain also warned that tariffs would raise prices for US consumers. As the earnings season winds down, of the 457 S&P 500 companies reporting about 75% have beaten profit expectations, according to Refinitiv data. The Dow ended Thursday with gains of 0.84 per cent, while the S&P 500 added 0.89 per cent and the Nasdaq 0.97 per cent. Pound ground down The chillier tone in Asia helped Treasuries recoup early losses as the session wore on, with the 10-year futures contract firming 7 ticks. The US dollar lost a little of its shine on the safe-haven yen to stand at 109.64 from a top of 110.03. Against a basket of currencies, it was a shade softer at 96.824. Yet the euro could make no ground and held at $1.1173, down 0.5% for the week so far. Sterling was one of the worst performers as Britain's Prime Minister Theresa May battled to keep her Brexit deal, and her premiership, intact amid growing fears of a disorderly departure from the European Union. [GBP/] The pound touched a three-month low of $1.2783 and was down a hefty 1.6% for the week so far. Also under pressure was the Australian dollar, losing 1.5 per cent for the week to $0.6890 as investors piled into bets that interest rates would be cut in June. The main mover in Asia was cyber currency Bitcoin which tumbled over 20 per cent at one stage for no discernible reason. It was last down 7 per cent. In commodity markets, spot gold steadied at $1,287.34 per ounce as risk sentiment soured. Oil futures firmed into a fourth session as rising tensions in the Middle East stoked fears of potential supply disruptions. US crude was last up 14 cents at $63.01 a barrel, while Brent crude futures rose 12 cents to $72.74.

Global Markets: Asia shares shudder as Beijing talks tough

China Neglect US President Trump's Warning Not To Retaliate. Global Markets Are Struggling As Trade Disputes Between US & China Come To The Fore.

Gravitas: US-China Trade Tensions Escalate, China Announces Retaliatory Tariffs

US stock futures fell and Asian shares held onto earlier-pared gains on Friday after US President Donald <a href="https://www.wionews.com/world/deeply-regret-us-tariffs-will-take-necessary-countermeasures-china-217426">Trump's tariff hike on $200 billion of Chinese goods </a>took effect, raising tensions between the world's two biggest economies despite ongoing talks.

E-mini futures for US&nbsp;S&amp;P500 slipped after the higher tariffs kicked in, and were last down 0.6% in choppy trade.

Chinese shares, even more volatile, dropped sharply when the tariffs took effect but then recovered, with the Shanghai composite index last 1.9 per cent higher.

MSCI's broadest index of Asia-Pacific shares outside Japan, which dropped more than 1 per cent early Friday, remained where they were when tariff increase kicked in, up 0.3%.

Japan's Nikkei was off 0.3 per cent.

European stock futures point to gain of 0.5-0.6 per cent in European stocks, which closed on Thursday before Trump's comments about receiving a "beautiful" letter from Chinese President Xi Jinping.

That stoked some optimism, helping US shares cut losses on Thursday.

With no action taken by the Trump administration to reverse the increase the duty rate to 25 per cent from the previous 10% by 0401 GMT, investors worried about further escalation in the trade war that has dogged the global economy for more than a year.

"Best case from here is we hold at 25%. But unless China blinks things can get far, far worse. This can escalate beyond tariffs. And beyond economics," Michael Every, Hong Kong-based head of Asia-Pacific markets research at Rabobank.

But the White House has said the two sides would resume negotiations on Friday morning in Washington after concluding the first of two days of talks on Thursday to try to rescue a trade deal close to collapsing.

That has encouraged some investors to cling to hopes that the US&nbsp;administration could revoke the new tariff hike once a deal is reached.

"The most likely outcome – to which we assign a probability of 70% – sees both sides concluding a deal, albeit at perhaps a slightly delayed timeframe," said Jack Siu, senior investment strategist at Credit Suisse in Hong Kong.

He predicted the market will remain volatile until a deal is eventually reached.

But Trump also threatened on Thursday to take steps to authorise new tariffs on $325 billion in Chinese imports.

Still, on the week, most markets were down on fears about Sino-US&nbsp;tensions.

The S&amp;P500 futures were down 3.0%, the Shanghai index down 6.3%, the Nikkei 4.5% and ex-Japan Asia MSCI 4.3%.

"Should tensions escalate significantly in coming days, we expect a pronounced market reaction. There is the potential for a 15%-plus correction in Chinese and emerging market (EM) stocks, and around 5-7% falls in global equities, in our opinion," analysts at Lombard Odier Investment Managers said in a note.

Rising geopolitical tensions are not helping.

North Korea fired what appeared to be two short-range missiles on Thursday in its second such test in less than a week and the United States said it had seized a North Korean cargo ship.

On Iran, Trump said he could not rule out a military confrontation after Tehran relaxed restrictions on its nuclear programme in response to U.S. sanctions imposed following Trump's withdrawal of the United States from the accord with a year ago.

The 10-year US Treasuries yield stood at 2.449 per cent near its lowest levels since late March.

It stood just about two basis points above the three-month bill yields, which stood at 2.424 per cent.

A fall in the 10-year yield below the shorter three-month yields would likely spark worries about the US&nbsp;economy, as in the past the phenomenon has signalled a recession.

In the currency market, the yen is favoured, with the dollar changing hands at 109.65 yen, having hit a three-month low of 109.47 on Thursday.

The euro firmed slightly to $1.1226 while the Chinese yuan perked at 6.837 per dollar having hit a four-month low of 6.8638 to the dollar the previous day.

MSCI's emerging market currency index also tumbled to a four-month low on Thursday.

Oil prices erased gains that were made after Trump's comments on Xi's letter raised hopes for a deal.

Brent was down 0.1% to $70.30 a barrel while US West Texas Intermediate (WTI) crude fell 0.1% to $61.67.

Gold ticked up 0.2 per cent to $1,286.3 per ounce.​

US stock futures fell and Asian shares held onto earlier-pared gains on Friday after US President Donald Trump's tariff hike on $200 billion of Chinese goods took effect, raising tensions between the world's two biggest economies despite ongoing talks.

US stock futures fell and Asian shares held onto earlier-pared gains on Friday after US President Donald Trump's tariff hike on $200 billion of Chinese goods took effect, raising tensions between the world's two biggest economies despite ongoing talks. E-mini futures for US S&P500 slipped after the higher tariffs kicked in, and were last down 0.6% in choppy trade. Chinese shares, even more volatile, dropped sharply when the tariffs took effect but then recovered, with the Shanghai composite index last 1.9 per cent higher. MSCI's broadest index of Asia-Pacific shares outside Japan, which dropped more than 1 per cent early Friday, remained where they were when tariff increase kicked in, up 0.3%. Japan's Nikkei was off 0.3 per cent. European stock futures point to gain of 0.5-0.6 per cent in European stocks, which closed on Thursday before Trump's comments about receiving a "beautiful" letter from Chinese President Xi Jinping. That stoked some optimism, helping US shares cut losses on Thursday. With no action taken by the Trump administration to reverse the increase the duty rate to 25 per cent from the previous 10% by 0401 GMT, investors worried about further escalation in the trade war that has dogged the global economy for more than a year. "Best case from here is we hold at 25%. But unless China blinks things can get far, far worse. This can escalate beyond tariffs. And beyond economics," Michael Every, Hong Kong-based head of Asia-Pacific markets research at Rabobank. But the White House has said the two sides would resume negotiations on Friday morning in Washington after concluding the first of two days of talks on Thursday to try to rescue a trade deal close to collapsing. That has encouraged some investors to cling to hopes that the US administration could revoke the new tariff hike once a deal is reached. "The most likely outcome – to which we assign a probability of 70% – sees both sides concluding a deal, albeit at perhaps a slightly delayed timeframe," said Jack Siu, senior investment strategist at Credit Suisse in Hong Kong. He predicted the market will remain volatile until a deal is eventually reached. But Trump also threatened on Thursday to take steps to authorise new tariffs on $325 billion in Chinese imports. Still, on the week, most markets were down on fears about Sino-US tensions. The S&P500 futures were down 3.0%, the Shanghai index down 6.3%, the Nikkei 4.5% and ex-Japan Asia MSCI 4.3%. "Should tensions escalate significantly in coming days, we expect a pronounced market reaction. There is the potential for a 15%-plus correction in Chinese and emerging market (EM) stocks, and around 5-7% falls in global equities, in our opinion," analysts at Lombard Odier Investment Managers said in a note. Rising geopolitical tensions are not helping. North Korea fired what appeared to be two short-range missiles on Thursday in its second such test in less than a week and the United States said it had seized a North Korean cargo ship. On Iran, Trump said he could not rule out a military confrontation after Tehran relaxed restrictions on its nuclear programme in response to U.S. sanctions imposed following Trump's withdrawal of the United States from the accord with a year ago. The 10-year US Treasuries yield stood at 2.449 per cent near its lowest levels since late March. It stood just about two basis points above the three-month bill yields, which stood at 2.424 per cent. A fall in the 10-year yield below the shorter three-month yields would likely spark worries about the US economy, as in the past the phenomenon has signalled a recession. In the currency market, the yen is favoured, with the dollar changing hands at 109.65 yen, having hit a three-month low of 109.47 on Thursday. The euro firmed slightly to $1.1226 while the Chinese yuan perked at 6.837 per dollar having hit a four-month low of 6.8638 to the dollar the previous day. MSCI's emerging market currency index also tumbled to a four-month low on Thursday. Oil prices erased gains that were made after Trump's comments on Xi's letter raised hopes for a deal. Brent was down 0.1% to $70.30 a barrel while US West Texas Intermediate (WTI) crude fell 0.1% to $61.67. Gold ticked up 0.2 per cent to $1,286.3 per ounce.

US stocks slip after tariff hike, Chinese stocks dip but recover later

US-China Talks Were Headed To An Amicable Solution Before US President Trump Decided To Hike Tariffs On China. Is The Trade War Back On The Table?

Gravitas: Fresh Tariffs On China: Trump Spooks Global Markets With A Few Tweets

Asian stocks advanced on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment.

The Wall Street Journal reported on Thursday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30.

US stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. WSJ also reported that US Trade Representative Robert Lighthizer has resisted Mnuchin`s idea. For the day, all three major US indexes were up, led by a surge in industrial stocks.&nbsp;

Even the whiff of progress in the months-long Sino-U.S. trade war helped boost risk sentiment. MSCI`s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent. The index has gained 1.4 per cent this week.

The Shanghai Composite Index was up 0.8 per cent.

Australian stocks rose 0.5 per cent, as did South Korea`s KOSPI while Japan`s Nikkei gained more than 1 per cent to a one-month high.

"As with 2018, the U.S.-China trade row remains a key market theme in 2019. A slight difference is that there are some signs that the two sides are seeking some sort of a resolution," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo.

"China seems to be running low on options, while the United States would also want to avoid a prolonged conflict given the negative consequences on its markets and the economy," Monji said.

Chinese Vice Premier Liu He will visit the United States on January 30 and 31 for the latest round of trade talks aimed at resolving the dispute between the world`s two largest economies.

In December, Washington and Beijing agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods.

Indicators released recently have shown signs that the Chinese economy is losing some momentum.

China`s fourth-quarter economic growth, due to be reported on Monday, likely slowed to the weakest pace since the global financial crisis, a Reuters poll showed, as demand faltered at home and abroad.

The dollar was mildly supported after US Treasury yields rose amid the improvement in risk appetite in the broader markets.

The greenback was a shade higher at 109.320 yen after popping up to a two-week high of 109.40 overnight. The dollar has gained about 0.7 per cent against the Japanese currency this week.

The euro was little changed at $1.1393 after dipping slightly overnight. The common currency was on track for a weekly loss of 0.7 per cent.

The 10-year Treasury yield stood at 2.750 per cent after going brushing 2.761 per cent the previous day, its highest in three weeks.

The pound traded at $1.2978, hovering close to a two-month peak of $1.3001 scaled overnight on the back of hopes that Britain can avoid a no-deal Brexit.

British Prime Minister Theresa May`s Brexit deal suffered a heavy defeat in parliament this week but she survived a subsequent vote of confidence, removing some political uncertainty for now.

US crude oil futures extended gains after rising the previous day on a bounce in Wall Street and news that OPEC sharply curtailed production in December.&nbsp;

US crude futures added 1 per cent to $52.61 per barrel. The contracts have gained more than 2 per cent this week.

Brent crude was up 0.8 per cent at $61.67 per barrel and on track to gain 2 per cent on the week.

Elsewhere in commodities, palladium was 0.6 per cent higher at $1,403.50 an ounce after rising to an all-time high of $1,434.50 overnight.

Demand has recently outstripped supply for the metal, used in emissions-reducing catalytic converters for cars. Palladium also appeared to get a boost from hopes for further government stimulus in China, the world`s biggest auto market.&nbsp;

Spot gold was steady at $1,291.56 an ounce, having relinquished its spot as the most expensive precious metal to palladium early in December.

Asian stocks advanced on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment. The Wall Street Journal reported on Thursday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30.

Asian stocks advanced on Friday as a report of progress in US-China trade talks stirred hopes of a deal in their tariff dispute and supported risk sentiment. The Wall Street Journal reported on Thursday that US Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for January 30. US stocks rallied following the report, but pared some of those gains after a Treasury spokesperson told CNBC that Mnuchin had not made any such recommendations. WSJ also reported that US Trade Representative Robert Lighthizer has resisted Mnuchin`s idea. For the day, all three major US indexes were up, led by a surge in industrial stocks. Even the whiff of progress in the months-long Sino-U.S. trade war helped boost risk sentiment. MSCI`s broadest index of Asia-Pacific shares outside Japan added 0.7 per cent. The index has gained 1.4 per cent this week. The Shanghai Composite Index was up 0.8 per cent. Australian stocks rose 0.5 per cent, as did South Korea`s KOSPI while Japan`s Nikkei gained more than 1 per cent to a one-month high. "As with 2018, the U.S.-China trade row remains a key market theme in 2019. A slight difference is that there are some signs that the two sides are seeking some sort of a resolution," said Soichiro Monji, senior economist at Daiwa SB Investments in Tokyo. "China seems to be running low on options, while the United States would also want to avoid a prolonged conflict given the negative consequences on its markets and the economy," Monji said. Chinese Vice Premier Liu He will visit the United States on January 30 and 31 for the latest round of trade talks aimed at resolving the dispute between the world`s two largest economies. In December, Washington and Beijing agreed to a 90-day truce in a trade war that has disrupted the flow of hundreds of billions of dollars of goods. Indicators released recently have shown signs that the Chinese economy is losing some momentum. China`s fourth-quarter economic growth, due to be reported on Monday, likely slowed to the weakest pace since the global financial crisis, a Reuters poll showed, as demand faltered at home and abroad. The dollar was mildly supported after US Treasury yields rose amid the improvement in risk appetite in the broader markets. The greenback was a shade higher at 109.320 yen after popping up to a two-week high of 109.40 overnight. The dollar has gained about 0.7 per cent against the Japanese currency this week. The euro was little changed at $1.1393 after dipping slightly overnight. The common currency was on track for a weekly loss of 0.7 per cent. The 10-year Treasury yield stood at 2.750 per cent after going brushing 2.761 per cent the previous day, its highest in three weeks. The pound traded at $1.2978, hovering close to a two-month peak of $1.3001 scaled overnight on the back of hopes that Britain can avoid a no-deal Brexit. British Prime Minister Theresa May`s Brexit deal suffered a heavy defeat in parliament this week but she survived a subsequent vote of confidence, removing some political uncertainty for now. US crude oil futures extended gains after rising the previous day on a bounce in Wall Street and news that OPEC sharply curtailed production in December. US crude futures added 1 per cent to $52.61 per barrel. The contracts have gained more than 2 per cent this week. Brent crude was up 0.8 per cent at $61.67 per barrel and on track to gain 2 per cent on the week. Elsewhere in commodities, palladium was 0.6 per cent higher at $1,403.50 an ounce after rising to an all-time high of $1,434.50 overnight. Demand has recently outstripped supply for the metal, used in emissions-reducing catalytic converters for cars. Palladium also appeared to get a boost from hopes for further government stimulus in China, the world`s biggest auto market. Spot gold was steady at $1,291.56 an ounce, having relinquished its spot as the most expensive precious metal to palladium early in December.

Global Markets: Asia stocks advance on US-China trade relief

World stock markets stumbled and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world's second-biggest economy and sparked fresh fears of a sharper slowdown in global growth.

Latest data from China showed imports fell 7.6 per cent year-on-year in December when analysts had predicted a 5 per cent rise, while exports dropped 4.4 per cent, confounding expectations for a 3 per cent gain.

The data reinforced fears US tariffs on Chinese goods were starting to hit China's cooling economy, while softening demand has been felt around the world with sales of goods ranging from iPhones to automobiles slowing, prompting profit warnings from the likes of Apple and Jaguar Land Rover.

The index of Europe's leading 300 shares slipped 0.7 per cent in early trade to 1,365 points. Germany's DAX and France's CAC fell around 0.6 per cent, with shares in European luxury goods companies and the automotive sector suffering some of the biggest declines.

"We believe trade growth next year will slow significantly on huge uncertainty and high base," Citi analysts wrote in a note, predicting China's exports and imports to fall 5.1 per cent and 6.8 per cent respectively this year.

"Significant uncertainty remains as to whether there could be a 'deal' after March 1," they added.

The falls in Europe followed hefty declines in Asia where MSCI's broadest index of Asia-Pacific ex-Japan shares lost around 1 per cent from Friday's 1-1/2 month high - its biggest single-day percentage drop since January 2. Chinese and Hong Kong shares suffered the worst hits.

US futures showed no let-up on the horizon, with Nasdaq e-mini futures pointing to a near-1 per cent fall for US tech stocks while industrials looked to open 0.8 per cent softer.

Commodities suffer

The prospect of slowing global growth also roiled commodity markets, with oil prices slipping 1 per cent and industrial metals copper and aluminium losing ground in both London and Shanghai.

Meanwhile, safe havens trades benefited from the equity pullback with US 10-year Treasury yields falling to as low as 2.6690 per cent - their lowest level in a week - while gold prices gained.

The world's two largest economies have been in talks for months now to try and resolve their bitter trade war, with no signs so far of any substantial progress in negotiations.

Some analysts expect China's latest data to provide impetus to Beijing to resolve the trade dispute with Washington.

Though Citi analysts said even with the rising probability for both sides to reach an agreement, the tariff and trade disruption appears to have already rippled through the global economy.

"The regional trade growth appears to have slowed substantially after front-loading effect diminished," they said.

In the wake of the trade dispute, China's policymakers have already pledged to step up support this year, following a raft of measures in 2018 including fast-tracking infrastructure projects and cuts in banks' reserve requirements and taxes.

In currency markets, the yuan held broadly onto recent gains in both onshore and offshore trading. The Chinese currency had recorded its best week in more than a decade last week.

However, this could change, said Tim Graf, head of macro strategy EMEA at State Street.

"The weakness in the Chinese data is calling into question the recent strength of the renminbi," said Graf. "The downside for dollar/Chinese yuan is limited and that has implications for the euro and the Aussie dollar."

The dollar index as measured against a basket of currencies nudged 0.1 per cent lower to 95.598 per cent. However, the Australian dollar and New Zealand dollar - both gauges of global risk appetite - softened more than 0.4 per cent in early trading.

The euro was subdued as it hit key technical levels after data from Italy on Friday showed the euro zone's third-largest economy was at risk of recession. The single currency was last at $1.1474.

Britain's pound was marginally lower at $1.2826 at the start of what is expected to be a tumultuous week as Prime Minister Theresa May seeks to win a vote in parliament on Tuesday to get her Brexit deal approved. The numbers are not in May's favour and her chances of winning the vote look slim.

For the US trading day ahead, banks will be in sharp focus as they kick off the earnings season. Quarterly results from Citigroup are due on Monday followed by JPMorgan Chase, Wells Fargo, Goldman Sachs and Morgan Stanley later in the week.

Expectations are dour with profits for US companies forecast to rise 6.4 per cent, down from an October 1 estimate of 10.2 per cent and a big drop from 2018's tax cut-fuelled gain of more than 20 per cent.

Investor attention was also on the US government shutdown, now in its 24th day, and with no resolution in sight.

World stock markets stumbled and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world's second-biggest economy and sparked fresh fears of a sharper slowdown in global growth.

World stock markets stumbled and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world's second-biggest economy and sparked fresh fears of a sharper slowdown in global growth. Latest data from China showed imports fell 7.6 per cent year-on-year in December when analysts had predicted a 5 per cent rise, while exports dropped 4.4 per cent, confounding expectations for a 3 per cent gain. The data reinforced fears US tariffs on Chinese goods were starting to hit China's cooling economy, while softening demand has been felt around the world with sales of goods ranging from iPhones to automobiles slowing, prompting profit warnings from the likes of Apple and Jaguar Land Rover. The index of Europe's leading 300 shares slipped 0.7 per cent in early trade to 1,365 points. Germany's DAX and France's CAC fell around 0.6 per cent, with shares in European luxury goods companies and the automotive sector suffering some of the biggest declines. "We believe trade growth next year will slow significantly on huge uncertainty and high base," Citi analysts wrote in a note, predicting China's exports and imports to fall 5.1 per cent and 6.8 per cent respectively this year. "Significant uncertainty remains as to whether there could be a 'deal' after March 1," they added. The falls in Europe followed hefty declines in Asia where MSCI's broadest index of Asia-Pacific ex-Japan shares lost around 1 per cent from Friday's 1-1/2 month high - its biggest single-day percentage drop since January 2. Chinese and Hong Kong shares suffered the worst hits. US futures showed no let-up on the horizon, with Nasdaq e-mini futures pointing to a near-1 per cent fall for US tech stocks while industrials looked to open 0.8 per cent softer. Commodities suffer The prospect of slowing global growth also roiled commodity markets, with oil prices slipping 1 per cent and industrial metals copper and aluminium losing ground in both London and Shanghai. Meanwhile, safe havens trades benefited from the equity pullback with US 10-year Treasury yields falling to as low as 2.6690 per cent - their lowest level in a week - while gold prices gained. The world's two largest economies have been in talks for months now to try and resolve their bitter trade war, with no signs so far of any substantial progress in negotiations. Some analysts expect China's latest data to provide impetus to Beijing to resolve the trade dispute with Washington. Though Citi analysts said even with the rising probability for both sides to reach an agreement, the tariff and trade disruption appears to have already rippled through the global economy. "The regional trade growth appears to have slowed substantially after front-loading effect diminished," they said. In the wake of the trade dispute, China's policymakers have already pledged to step up support this year, following a raft of measures in 2018 including fast-tracking infrastructure projects and cuts in banks' reserve requirements and taxes. In currency markets, the yuan held broadly onto recent gains in both onshore and offshore trading. The Chinese currency had recorded its best week in more than a decade last week. However, this could change, said Tim Graf, head of macro strategy EMEA at State Street. "The weakness in the Chinese data is calling into question the recent strength of the renminbi," said Graf. "The downside for dollar/Chinese yuan is limited and that has implications for the euro and the Aussie dollar." The dollar index as measured against a basket of currencies nudged 0.1 per cent lower to 95.598 per cent. However, the Australian dollar and New Zealand dollar - both gauges of global risk appetite - softened more than 0.4 per cent in early trading. The euro was subdued as it hit key technical levels after data from Italy on Friday showed the euro zone's third-largest economy was at risk of recession. The single currency was last at $1.1474. Britain's pound was marginally lower at $1.2826 at the start of what is expected to be a tumultuous week as Prime Minister Theresa May seeks to win a vote in parliament on Tuesday to get her Brexit deal approved. The numbers are not in May's favour and her chances of winning the vote look slim. For the US trading day ahead, banks will be in sharp focus as they kick off the earnings season. Quarterly results from Citigroup are due on Monday followed by JPMorgan Chase, Wells Fargo, Goldman Sachs and Morgan Stanley later in the week. Expectations are dour with profits for US companies forecast to rise 6.4 per cent, down from an October 1 estimate of 10.2 per cent and a big drop from 2018's tax cut-fuelled gain of more than 20 per cent. Investor attention was also on the US government shutdown, now in its 24th day, and with no resolution in sight.

Global Markets: China trade shock rattles European stocks, commodities

Snapping their three-session rising streak, market benchmark indices Sensex and Nifty ended the last trading session of 2018 with marginal losses amid mixed cues from global markets.&nbsp;

The 30-share BSE index fell 8.39 points, or 0.02 per cent, to finish at 36,068.33; while the broader NSE Nifty edged lower by 2.65 points, or 0.02 per cent, to 10,862.55.

At the Interbank Foreign Exchange, the Indian rupee, however, was trading 15 paise higher at 69.80 (intra-day) against the US dollar.

The benchmark Brent crude was trading higher by 1.84 per cent at $54.19 per barrel.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 119.60 crore Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,199.40 crore, provisional data available with the BSE showed.&nbsp;

Snapping their three-session rising streak, market benchmark indices Sensex and Nifty ended the last trading session of 2018 with marginal losses amid mixed cues from global markets.

Snapping their three-session rising streak, market benchmark indices Sensex and Nifty ended the last trading session of 2018 with marginal losses amid mixed cues from global markets. The 30-share BSE index fell 8.39 points, or 0.02 per cent, to finish at 36,068.33; while the broader NSE Nifty edged lower by 2.65 points, or 0.02 per cent, to 10,862.55. At the Interbank Foreign Exchange, the Indian rupee, however, was trading 15 paise higher at 69.80 (intra-day) against the US dollar. The benchmark Brent crude was trading higher by 1.84 per cent at $54.19 per barrel. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 119.60 crore Friday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,199.40 crore, provisional data available with the BSE showed.

Indian equities end 2018 on a sluggish note

<a href="http://www.wionews.com/world/global-markets-stocks-dip-ahead-of-federal-news-oil-prices-drop-185217">Global investors</a> gravitated toward safe-haven assets on Friday as worries about the world economy persisted, cutting short a two-day rebound in Wall Street stocks.

US stock indexes seesawed, making it difficult to end one of the most brutal December selloffs in memory on a high note.

"Markets will likely remain treacherous in the New Year," Marc Chandler, chief market strategist at Bannockburn Global Forex LLC, told clients.

After flirting with strong gains in the afternoon, the Dow Jones Industrial Average&nbsp;

MSCI's index of global equities gained 0.57 per cent to bring the global benchmark to a weekly advance near 2 per cent.

Markets swung wildly in a week shortened by the Christmas holiday, starting with Wall Street's worst-ever Christmas Eve drop, pushing the S&amp;P 500 to within a whisker of bear market territory.

But efforts at a late Santa Claus rally failed to salve investors after a year that brought gains for very few categories of financial assets, from stocks to bonds and commodities. The global MSCI index, the S&amp;P 500, the Dow and the Nasdaq are each headed for their worst years since the 2008 financial crisis.

The dollar index dipped 0.14 per cent, with the euro up 0.14 per cent to $1.1445 and Japanese yen strengthening 0.75 per cent against the greenback at 110.17 per dollar. The greenback is down 1 per cent this month against a basket of major currencies.

That has boosted gold, a traditional safe haven whose appeal this year was hit by a stronger dollar, which makes the yellow metal more expensive to buyers with other currencies. Gold is perched at six-month highs of $1,280.11 an ounce.&nbsp;

The steady drumbeat of disappointing economic data reinforced caution, including Japan's slowing industrial output and retail sales, declining German inflation and US data for November showing contracts to buy previously owned homes fell unexpectedly in the latest sign of housing market weakness.

Breaking with the bad news, the Chicago Purchasing Management Index came in ahead of consensus.

Chris Bailey, a strategist at brokerage Raymond James Financial Inc, said dollar weakness was good news for non-US assets.

"If we get the transmission mechanism of a lower dollar, stocks outside the US are set up for a good 2019," Bailey said. "Once people get their heads around the fact the US is not going to have yet another double-digit return year in 2019, you can look elsewhere."

That would be a relief to world markets that largely underperformed the United States in 2018.

Bonds have also been helped in recent weeks by risk aversion. US benchmark 10-year Treasury notes last rose 8/32 in price to yield 2.7146 per cent, compared with 2.743 per cent late on Thursday.&nbsp;

Oil prices lifted a bit off two-year lows after a near 40 per cent decline this quarter with US West Texas Intermediate crude futures settling up 1.6 per cent to $45.33 per barrel.

The Energy Information Administration reported US crude stocks fell modestly last week.&nbsp;

Global investors gravitated toward safe-haven assets on Friday as worries about the world economy persisted, cutting short a two-day rebound in Wall Street stocks.

Global investors gravitated toward safe-haven assets on Friday as worries about the world economy persisted, cutting short a two-day rebound in Wall Street stocks. US stock indexes seesawed, making it difficult to end one of the most brutal December selloffs in memory on a high note. "Markets will likely remain treacherous in the New Year," Marc Chandler, chief market strategist at Bannockburn Global Forex LLC, told clients. After flirting with strong gains in the afternoon, the Dow Jones Industrial Average MSCI's index of global equities gained 0.57 per cent to bring the global benchmark to a weekly advance near 2 per cent. Markets swung wildly in a week shortened by the Christmas holiday, starting with Wall Street's worst-ever Christmas Eve drop, pushing the S&P 500 to within a whisker of bear market territory. But efforts at a late Santa Claus rally failed to salve investors after a year that brought gains for very few categories of financial assets, from stocks to bonds and commodities. The global MSCI index, the S&P 500, the Dow and the Nasdaq are each headed for their worst years since the 2008 financial crisis. The dollar index dipped 0.14 per cent, with the euro up 0.14 per cent to $1.1445 and Japanese yen strengthening 0.75 per cent against the greenback at 110.17 per dollar. The greenback is down 1 per cent this month against a basket of major currencies. That has boosted gold, a traditional safe haven whose appeal this year was hit by a stronger dollar, which makes the yellow metal more expensive to buyers with other currencies. Gold is perched at six-month highs of $1,280.11 an ounce. The steady drumbeat of disappointing economic data reinforced caution, including Japan's slowing industrial output and retail sales, declining German inflation and US data for November showing contracts to buy previously owned homes fell unexpectedly in the latest sign of housing market weakness. Breaking with the bad news, the Chicago Purchasing Management Index came in ahead of consensus. Chris Bailey, a strategist at brokerage Raymond James Financial Inc, said dollar weakness was good news for non-US assets. "If we get the transmission mechanism of a lower dollar, stocks outside the US are set up for a good 2019," Bailey said. "Once people get their heads around the fact the US is not going to have yet another double-digit return year in 2019, you can look elsewhere." That would be a relief to world markets that largely underperformed the United States in 2018. Bonds have also been helped in recent weeks by risk aversion. US benchmark 10-year Treasury notes last rose 8/32 in price to yield 2.7146 per cent, compared with 2.743 per cent late on Thursday. Oil prices lifted a bit off two-year lows after a near 40 per cent decline this quarter with US West Texas Intermediate crude futures settling up 1.6 per cent to $45.33 per barrel. The Energy Information Administration reported US crude stocks fell modestly last week.

Global markets: Equities markets limp to finish line after volatile week

Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy.

Energy stocks weighed on the US&nbsp;market as oil price declines deepened.

Steep drops in equity markets over the last two months have sapped investor confidence, spurring fund managers to predict global growth to weaken over the next 12 months, the worst outlook in a decade, Bank of America Merrill Lynch's December investor survey showed.

MSCI's world stock index fell 0.3 per cent. The index is down 10 per cent this year and is set for its worst year in a decade.

US&nbsp;stocks eked out modest gains amid volatile trading as investors weighed strong tech earnings against concerns about global growth.

The Dow Jones Industrial Average&nbsp;rose 82.66 points, or 0.35 per cent, to 23,675.64, the S&amp;P 500 gained 0.22 points, or 0.01 per cent, to 2,546.16 and the Nasdaq Composite added 30.18 points, or 0.45 per cent, to 6,783.91.

The Dow had been up by more than 250 points in midday trading.

The benchmark S&amp;P 500&nbsp;index began the trading session almost 8 per cent lower for December.

"We're facing the biggest December fall in US&nbsp;stocks since 1931 and this is striking and worrying at the same time," said Chris Bailey, European strategist at international financial services firm Raymond James. "We are at a regime shift moment, and the debate is how big that regime shift will be."

A speech by Chinese President Xi Jinping, which investors had hoped could lift morale, had little impact after he offered no specific support measures for the economy. Chinese shares fell over 1 per cent. Japan's Nikkei lost 1.8 per cent.

Adding to the gloomy mood, the German Ifo economic institute's business climate index fell for the fourth month in a row to its lowest level in more than two years and Japan's government revised down its economic growth forecasts.

On Monday, US President Donald Trump and his top trade adviser stepped up their criticism of the Fed's monetary tightening, raising investor anxiety.

Benchmark 10-year notes last rose 9/32 in price to yield 2.8264 per cent, from 2.857 per cent late on Monday.

US&nbsp;crude futures settled down 7.3 per cent while Brent settled down 5.6 per cent, weakening for a third consecutive session on reports of swelling inventories and forecasts of record US&nbsp;and Russian output.

The dollar extended its declines against major currencies ahead of the Fed meeting. The dollar index &lt;.DXY&gt;, tracking it against six major peers, fell 0.03 per cent, with the euro&nbsp;up 0.14 per cent to $1.1362.

Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy.

Global equity markets dipped on Tuesday as nervous investors awaited indications whether the Federal Reserve will be able to raise interest rates much further amid turbulent markets and a weakening outlook for the global economy. Energy stocks weighed on the US market as oil price declines deepened. Steep drops in equity markets over the last two months have sapped investor confidence, spurring fund managers to predict global growth to weaken over the next 12 months, the worst outlook in a decade, Bank of America Merrill Lynch's December investor survey showed. MSCI's world stock index fell 0.3 per cent. The index is down 10 per cent this year and is set for its worst year in a decade. US stocks eked out modest gains amid volatile trading as investors weighed strong tech earnings against concerns about global growth. The Dow Jones Industrial Average rose 82.66 points, or 0.35 per cent, to 23,675.64, the S&P 500 gained 0.22 points, or 0.01 per cent, to 2,546.16 and the Nasdaq Composite added 30.18 points, or 0.45 per cent, to 6,783.91. The Dow had been up by more than 250 points in midday trading. The benchmark S&P 500 index began the trading session almost 8 per cent lower for December. "We're facing the biggest December fall in US stocks since 1931 and this is striking and worrying at the same time," said Chris Bailey, European strategist at international financial services firm Raymond James. "We are at a regime shift moment, and the debate is how big that regime shift will be." A speech by Chinese President Xi Jinping, which investors had hoped could lift morale, had little impact after he offered no specific support measures for the economy. Chinese shares fell over 1 per cent. Japan's Nikkei lost 1.8 per cent. Adding to the gloomy mood, the German Ifo economic institute's business climate index fell for the fourth month in a row to its lowest level in more than two years and Japan's government revised down its economic growth forecasts. On Monday, US President Donald Trump and his top trade adviser stepped up their criticism of the Fed's monetary tightening, raising investor anxiety. Benchmark 10-year notes last rose 9/32 in price to yield 2.8264 per cent, from 2.857 per cent late on Monday. US crude futures settled down 7.3 per cent while Brent settled down 5.6 per cent, weakening for a third consecutive session on reports of swelling inventories and forecasts of record US and Russian output. The dollar extended its declines against major currencies ahead of the Fed meeting. The dollar index <.DXY>, tracking it against six major peers, fell 0.03 per cent, with the euro up 0.14 per cent to $1.1362.

Global Markets: Stocks dip ahead of US interest rates, oil prices

<a href="http://www.wionews.com/business-economy/asian-shares-soften-as-investors-look-to-g20-summit-180358">Asian shares</a> fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to<a href="http://www.wionews.com/opinions/g20-summit-bring-a-truce-in-us-china-trade-relations-181105"> resolve trade differences</a>.

An inverted US&nbsp;yield curve also raised concerns about a possible recession.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent as Chinese equity markets struggled to move out of negative territory.

Chinese blue-chip shares in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3 per cent.

Australia shares gave up 0.8 per cent and Seoul's Kospi fell 0.6 per cent, while Japan's Nikkei stock index was 1.3 per cent lower.

The temporary freeze on further hostilities in the trade war between the United States and China had sparked a global rally in equity markets on Monday, pushing MSCI's all-country world index up 1.3 per cent.

But even before the trading day ended, major U.S. indexes pulled back from intraday highs as investors pondered unresolved issues between the two countries.

Overnight, the Dow Jones Industrial Average closed 1.13 per cent higher, the S&amp;P 500 gained 1.09 per cent and the Nasdaq Composite added 1.51 per cent.

"Overall trade news overnight (has) probably left the market with more questions than answers, can the US and China really resolve their differences in 90 days?" National Australia Bank analysts said in a note to clients.

"It seems that more details and signs of progress will be needed if the initial trade truce warm fuzzy feeling is to be sustained."

Already, there was confusion over when the 90-day period would start. A White House official said it started on Dec. 1. Earlier, White House economic adviser Larry Kudlow told reporters it would start on Jan. 1.

Moreover, none of the commitments that U.S. officials said had been given by China, including reducing its 40 per cent tariffs on autos, were agreed to in writing and specifics had yet to be hammered out.

"The fear across global markets is that this is just a short-term relief rally and we will find ourselves back where we were a few weeks ago and staring down the barrel of a long-term global growth slow down," Nick Twidale, Sydney-based analyst at Rakuten Securities Australia said in a note.

"In the short term, it seems we may find investors once again back to trading sentiment fluctuations as news hits the markets piecemeal on trade agreement progress."

Adding to worries over the outlook for the global economy, the yield curve between U.S. three-year and five-year notes, and between two-year and five-year paper inverted on Monday - the first parts of the Treasury yield curve to invert since the financial crisis, excluding very short-dated debt.

Analysts expect an inversion of the two-year, 10-year yield curve - seen as a predictor of a U.S. recession - to follow suit.

On Tuesday, the yield on benchmark 10-year Treasury notes fell to 2.9407 per cent compared with its U.S. close of 2.991 per cent on Monday. The two-year yield also fell, but by a narrower margin, touching 2.8028 per cent compared with a U.S. close of 2.833 per cent.

That put the spread between 10-year and two-year Treasuries at less than 14 basis points, its flattest level since July 2007.

"The market pricing evident in the yield curve inversion from three to five segment of the curve, as well as the dip in the 10-year yield below 3 per cent yesterday, goes to reinforce these concerns" about the U.S. economy potentially heading into a recession, said Prakash Sakpal, an economist at ING in Singapore.

However, he added that solid U.S. manufacturing data released Monday pointed to a stronger economic outlook, with new orders a "key driver" in boosting activity.

In contrast to how Asian equity markets could not sustain Monday's rally, oil prices continued to rise after surging 4 per cent the day before on the U.S.-China trade truce, and ahead of a key OPEC meeting expected to lead to supply cuts.

U.S. crude was 1.2 per cent higher at $53.58 per barrel, and Brent crude futures gained 1.1 per cent to $62.35 a barrel.

In the currency market, the dollar index, which tracks the greenback against a basket of peers, softened 0.2 per cent to 96.808.

The dollar was 0.3 per cent weaker against the yen, at 113.28, and the euro gained 0.2 per cent to $1.1373.

As the dollar weakened, China's yuan continued to surge. Since Friday, it has added more than 1,000 pips against the greenback, reaching 6.8545 on Tuesday morning. At 0327 GMT, it was trading at 6.8613 to the dollar.

Federal Reserve Chairman Jerome Powell was scheduled to testify on Wednesday to a congressional Joint Economic Committee, but the hearing was postponed because of a national day of mourning for <a href="http://www.wionews.com/world/former-us-president-george-bush-dies-at-94-son-180616">U.S. President George H.W. Bush,</a> who died on Friday.

The dollar came under pressure last week on Powell's comments that rates were nearing neutral levels, which markets widely interpreted as signalling a slowdown in the Fed's rate-hike cycle.

Spot gold jumped on the weaker dollar, trading up 0.40 per cent at $1,235.88 per ounce.&nbsp;

Asian shares fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to resolve trade differences.

Asian shares fell on Tuesday as a relief rally petered out amid rising doubts over whether China and the United States will be able to resolve trade differences. An inverted US yield curve also raised concerns about a possible recession. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent as Chinese equity markets struggled to move out of negative territory. Chinese blue-chip shares in Shenzhen and Shanghai were slightly weaker, and the benchmark Shanghai Composite index edged barely higher. Shares in Hong Kong lost 0.3 per cent. Australia shares gave up 0.8 per cent and Seoul's Kospi fell 0.6 per cent, while Japan's Nikkei stock index was 1.3 per cent lower. The temporary freeze on further hostilities in the trade war between the United States and China had sparked a global rally in equity markets on Monday, pushing MSCI's all-country world index up 1.3 per cent. But even before the trading day ended, major U.S. indexes pulled back from intraday highs as investors pondered unresolved issues between the two countries. Overnight, the Dow Jones Industrial Average closed 1.13 per cent higher, the S&P 500 gained 1.09 per cent and the Nasdaq Composite added 1.51 per cent. "Overall trade news overnight (has) probably left the market with more questions than answers, can the US and China really resolve their differences in 90 days?" National Australia Bank analysts said in a note to clients. "It seems that more details and signs of progress will be needed if the initial trade truce warm fuzzy feeling is to be sustained." Already, there was confusion over when the 90-day period would start. A White House official said it started on Dec. 1. Earlier, White House economic adviser Larry Kudlow told reporters it would start on Jan. 1. Moreover, none of the commitments that U.S. officials said had been given by China, including reducing its 40 per cent tariffs on autos, were agreed to in writing and specifics had yet to be hammered out. "The fear across global markets is that this is just a short-term relief rally and we will find ourselves back where we were a few weeks ago and staring down the barrel of a long-term global growth slow down," Nick Twidale, Sydney-based analyst at Rakuten Securities Australia said in a note. "In the short term, it seems we may find investors once again back to trading sentiment fluctuations as news hits the markets piecemeal on trade agreement progress." Adding to worries over the outlook for the global economy, the yield curve between U.S. three-year and five-year notes, and between two-year and five-year paper inverted on Monday - the first parts of the Treasury yield curve to invert since the financial crisis, excluding very short-dated debt. Analysts expect an inversion of the two-year, 10-year yield curve - seen as a predictor of a U.S. recession - to follow suit. On Tuesday, the yield on benchmark 10-year Treasury notes fell to 2.9407 per cent compared with its U.S. close of 2.991 per cent on Monday. The two-year yield also fell, but by a narrower margin, touching 2.8028 per cent compared with a U.S. close of 2.833 per cent. That put the spread between 10-year and two-year Treasuries at less than 14 basis points, its flattest level since July 2007. "The market pricing evident in the yield curve inversion from three to five segment of the curve, as well as the dip in the 10-year yield below 3 per cent yesterday, goes to reinforce these concerns" about the U.S. economy potentially heading into a recession, said Prakash Sakpal, an economist at ING in Singapore. However, he added that solid U.S. manufacturing data released Monday pointed to a stronger economic outlook, with new orders a "key driver" in boosting activity. In contrast to how Asian equity markets could not sustain Monday's rally, oil prices continued to rise after surging 4 per cent the day before on the U.S.-China trade truce, and ahead of a key OPEC meeting expected to lead to supply cuts. U.S. crude was 1.2 per cent higher at $53.58 per barrel, and Brent crude futures gained 1.1 per cent to $62.35 a barrel. In the currency market, the dollar index, which tracks the greenback against a basket of peers, softened 0.2 per cent to 96.808. The dollar was 0.3 per cent weaker against the yen, at 113.28, and the euro gained 0.2 per cent to $1.1373. As the dollar weakened, China's yuan continued to surge. Since Friday, it has added more than 1,000 pips against the greenback, reaching 6.8545 on Tuesday morning. At 0327 GMT, it was trading at 6.8613 to the dollar. Federal Reserve Chairman Jerome Powell was scheduled to testify on Wednesday to a congressional Joint Economic Committee, but the hearing was postponed because of a national day of mourning for U.S. President George H.W. Bush, who died on Friday. The dollar came under pressure last week on Powell's comments that rates were nearing neutral levels, which markets widely interpreted as signalling a slowdown in the Fed's rate-hike cycle. Spot gold jumped on the weaker dollar, trading up 0.40 per cent at $1,235.88 per ounce.

Global markets: Asia shares fall as lift from US-China trade truce ends

Asian shares crept cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US&nbsp;trade dispute, while the Federal Reserve's new-found concern on the global economy undermined the dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 per cent and Chinese blue chips 0.5 per cent.

Japan's Nikkei gained 0.4 per cent, but E-Mini futures for the S&amp;P 500 slipped 0.3 per cent.

Wall Street had firmed on Friday after US&nbsp;President Donald Trump said that he may not impose more tariffs on Chinese goods after Beijing sent a list of measures it was willing to take to resolve trade tensions.

The comment stoked speculation of a deal when Trump meets Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina later this month.

However, Sino-US&nbsp;tensions were clearly on display at an APEC meeting in Papua New Guinea over the weekend, where leaders failed to agree on a communique for the first time ever.

US&nbsp;Vice President Mike Pence said in a blunt speech that there would be no end to US&nbsp;tariffs on $250 billion of Chinese goods until China changed its ways.

"The comments from Trump were seen as offering a glimmer of hope that further tariff action could be held in abeyance," said NAB's head of FX strategy, Ray Attrill.

"The exchange of barbs between Pence and Chinese President Xi Jinping in PNG on the weekend continues to suggest this is unlikely."

Sensing a fed shift

Also uncertain was the outlook for US&nbsp;interest rates.

Federal Reserve policymakers are still signalling rate increases ahead but also sounded more concerned about a potential global slowdown, leading markets to suspect the tightening cycle may not have much further to run.

"Fed officials are having an easier time showing a slightly less hawkish leaning by noting the emerging global slowdown," said Deutsche Bank's macro strategist Alan Ruskin.

"It's undercutting expectations of rate hikes moving above 'neutral'," which the Fed has nominated as between 2.5 and 3 per cent. "This shift in tone is subtle, but fits with the more bullish bond market tone of late, and is starting to have a material impact on the dollar."

That will focus attention on an appearance by New York Fed President John Williams later on Monday to see if he echoes the same theme.

Investors have already lengthened the odds on further hikes, with a December move now priced at 73 per cent, down from over 90 per cent. Futures imply rates around 2.74 per cent for the end of next year, compared to 2.93 per cent early this month.

Yields on US&nbsp;10-year paper have duly declined to 3.06 per cent, from a recent top of 3.25 per cent.

The dollar followed to reach 96.441 against a basket of currencies, down from a peak of 97.693. The euro was up at $1.1414, while the dollar backed off to 112.66 yen.

Sterling remained vulnerable at $1.2833 after political turmoil over Brexit caused steep losses last week.

British Prime Minister Theresa May said on Sunday toppling her would risk delaying Brexit as she faces the possibility of a leadership challenge from within her own party.

With both pro-EU and pro-Brexit lawmakers unhappy with the draft agreement, it is not clear she will be able to win the backing of parliament, raising the risk Britain leaves the EU without a deal.

In commodity markets, gold found support from the drop in the dollar and held firm at $1,1221.92.

Oil prices suffered their sixth straight week of losses last week, but have found some aid from expectations the Organization of the Petroleum Exporting Countries would cut output. [O/R]

Brent crude was up 72 cents at $67.48 a barrel, while US&nbsp;crude gained 76 cents to $57.22.

Asian shares crept cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while the Federal Reserve's new-found concern on the global economy undermined the dollar.

Asian shares crept cautiously higher on Monday amid conflicting signals on the chance of a truce in the Sino-US trade dispute, while the Federal Reserve's new-found concern on the global economy undermined the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 per cent and Chinese blue chips 0.5 per cent. Japan's Nikkei gained 0.4 per cent, but E-Mini futures for the S&P 500 slipped 0.3 per cent. Wall Street had firmed on Friday after US President Donald Trump said that he may not impose more tariffs on Chinese goods after Beijing sent a list of measures it was willing to take to resolve trade tensions. The comment stoked speculation of a deal when Trump meets Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina later this month. However, Sino-US tensions were clearly on display at an APEC meeting in Papua New Guinea over the weekend, where leaders failed to agree on a communique for the first time ever. US Vice President Mike Pence said in a blunt speech that there would be no end to US tariffs on $250 billion of Chinese goods until China changed its ways. "The comments from Trump were seen as offering a glimmer of hope that further tariff action could be held in abeyance," said NAB's head of FX strategy, Ray Attrill. "The exchange of barbs between Pence and Chinese President Xi Jinping in PNG on the weekend continues to suggest this is unlikely." Sensing a fed shift Also uncertain was the outlook for US interest rates. Federal Reserve policymakers are still signalling rate increases ahead but also sounded more concerned about a potential global slowdown, leading markets to suspect the tightening cycle may not have much further to run. "Fed officials are having an easier time showing a slightly less hawkish leaning by noting the emerging global slowdown," said Deutsche Bank's macro strategist Alan Ruskin. "It's undercutting expectations of rate hikes moving above 'neutral'," which the Fed has nominated as between 2.5 and 3 per cent. "This shift in tone is subtle, but fits with the more bullish bond market tone of late, and is starting to have a material impact on the dollar." That will focus attention on an appearance by New York Fed President John Williams later on Monday to see if he echoes the same theme. Investors have already lengthened the odds on further hikes, with a December move now priced at 73 per cent, down from over 90 per cent. Futures imply rates around 2.74 per cent for the end of next year, compared to 2.93 per cent early this month. Yields on US 10-year paper have duly declined to 3.06 per cent, from a recent top of 3.25 per cent. The dollar followed to reach 96.441 against a basket of currencies, down from a peak of 97.693. The euro was up at $1.1414, while the dollar backed off to 112.66 yen. Sterling remained vulnerable at $1.2833 after political turmoil over Brexit caused steep losses last week. British Prime Minister Theresa May said on Sunday toppling her would risk delaying Brexit as she faces the possibility of a leadership challenge from within her own party. With both pro-EU and pro-Brexit lawmakers unhappy with the draft agreement, it is not clear she will be able to win the backing of parliament, raising the risk Britain leaves the EU without a deal. In commodity markets, gold found support from the drop in the dollar and held firm at $1,1221.92. Oil prices suffered their sixth straight week of losses last week, but have found some aid from expectations the Organization of the Petroleum Exporting Countries would cut output. [O/R] Brent crude was up 72 cents at $67.48 a barrel, while US crude gained 76 cents to $57.22.

Global Markets: Asia shares inch up, Federal Reserves caution curbs dollar

European shares sagged and the dollar and bond markets barely budged on Tuesday, as traders braced for midterm elections in the United States and potentially lively sessions ahead.

Japan [.T] and Hong Kong had helped Asia overcome another Chinese wobble [.SS], but Europe [.EU] was in the 0.4 per cent red as investors pounced on corporate earnings misses and pre-market caution dragged down Wall Street futures.

The elections mark the first major test of President Donald Trump's sweeping tax cuts and hostile trade policies. Polls point to his Republican party losing control of the House of Representatives which could curb some of his policymaking power.

With so much at stake, currency market moves were extremely tight. The dollar hardly moved against the euro, lost ground to Brexit-bound sterling but made some back against the yen as dealers kept their options open.

"It is definitely not the time to buy the dip," said London &amp; Capital's Chief Investment Officer Pau Morilla-Giner, referring to US&nbsp;and globally-focused stock markets and risk assets.

"Everything that could go well for US&nbsp;consumers in the last couple of years has gone well, but now the tide is turning... At the moment you are running out of drivers of growth in the US"

There was plenty for investors to digest from Europe too.

Italian and Spanish stocks and bonds weakened as updated PMI figures confirmed euro zone business growth had fallen to a two-year low last month against the backdrop of trade tensions.

The future output index caused even more concern as it fell to a near four-year low.

"Euro zone companies reported a disappointing start to the fourth quarter," said Chris Williamson, chief business economist at IHS Markit, which compiles the data.

Italian politics also played on the nerves too after euro zone finance ministers had called on Rome to change its budget at a meeting late on Monday.

With Italy unlikely to bow to the demands any time soon, it pointed to a further escalation in the damaging feud and pushed Italian borrowing costs up 5-7 basis points on the day. [GVD/EUR]

"Twenty-five countries have entered into the excessive deficit procedure and no-one has ever got a fine, so my gut feeling is that they (Italy) won't get one, just a slap on the wrist," said Lyn Graham-Taylor, strategist at Rabobank.

Oil spill

The uncertainty over the US&nbsp;midterms for US&nbsp;stocks futures was understandable. The S&amp;P 500 has risen 28 per cent since Trump's election in November, 2016, which is more than under any other president in the past 64 years.

MSCI's broadest index of Asia-Pacific shares ex-Japan had edged up 0.4 per cent overnight following a positive finish for Wall Street on Monday.

Japan's Nikkei also climbed 1.1 per cent, although weaker Chinese markets and regional technology shares capped the region. [.SS]

Apple suppliers such as Taiwan's Hon Hai Precision Industry were hit by a report that Apple had told its smartphone assemblers to halt plans for additional production lines dedicated to the iPhone XR. The report had also driven Apple shares 2.8 per cent lower in U.S. trade.

While political gridlock between the White House and Congress could hinder Trump's pro-business agenda and raise concerns about US&nbsp;political instability, some analysts say this may have already been priced in by investors.

The Cboe Skew index, also known as the "black swan" index, hovered not far from its 2-1/2-year low hit on Friday, indicating demand for options that provide protection remains tepid.

A higher skew typically indicates investors are buying more protection on heightened anxiety.

"Unlike the US&nbsp;Presidential election or the UK's Brexit referendum, the upcoming US (midterm) elections are not a binary event," said Yasuo Sakuma, chief investment officer at Libra Investments.

"So it's unlikely to send stocks significantly in one direction, apart from initial quick reactions."

Safe-haven gold was little changed but in oil markets crude prices were down near multi-month lows after the United States allowed eight countries to continue buying oil from Iran temporarily, easing the likelihood of a sharp supply drop.

US&nbsp;West Texas Intermediate (WTI) crude futures slipped 0.5 per cent to $62.80 a barrel, after hitting a seven-month low of $62.52 on Monday.

Brent crude futures dropped 0.6 per cent to $72.74 a barrel, near Friday's 2-1/2-month low of $72.16.

Both oil benchmarks have slid more than 15 per cent since hitting four-year highs in early October.

European shares sagged and the dollar and bond markets barely budged on Tuesday, as traders braced for midterm elections in the United States and potentially lively sessions ahead.

European shares sagged and the dollar and bond markets barely budged on Tuesday, as traders braced for midterm elections in the United States and potentially lively sessions ahead. Japan [.T] and Hong Kong had helped Asia overcome another Chinese wobble [.SS], but Europe [.EU] was in the 0.4 per cent red as investors pounced on corporate earnings misses and pre-market caution dragged down Wall Street futures. The elections mark the first major test of President Donald Trump's sweeping tax cuts and hostile trade policies. Polls point to his Republican party losing control of the House of Representatives which could curb some of his policymaking power. With so much at stake, currency market moves were extremely tight. The dollar hardly moved against the euro, lost ground to Brexit-bound sterling but made some back against the yen as dealers kept their options open. "It is definitely not the time to buy the dip," said London & Capital's Chief Investment Officer Pau Morilla-Giner, referring to US and globally-focused stock markets and risk assets. "Everything that could go well for US consumers in the last couple of years has gone well, but now the tide is turning... At the moment you are running out of drivers of growth in the US" There was plenty for investors to digest from Europe too. Italian and Spanish stocks and bonds weakened as updated PMI figures confirmed euro zone business growth had fallen to a two-year low last month against the backdrop of trade tensions. The future output index caused even more concern as it fell to a near four-year low. "Euro zone companies reported a disappointing start to the fourth quarter," said Chris Williamson, chief business economist at IHS Markit, which compiles the data. Italian politics also played on the nerves too after euro zone finance ministers had called on Rome to change its budget at a meeting late on Monday. With Italy unlikely to bow to the demands any time soon, it pointed to a further escalation in the damaging feud and pushed Italian borrowing costs up 5-7 basis points on the day. [GVD/EUR] "Twenty-five countries have entered into the excessive deficit procedure and no-one has ever got a fine, so my gut feeling is that they (Italy) won't get one, just a slap on the wrist," said Lyn Graham-Taylor, strategist at Rabobank. Oil spill The uncertainty over the US midterms for US stocks futures was understandable. The S&P 500 has risen 28 per cent since Trump's election in November, 2016, which is more than under any other president in the past 64 years. MSCI's broadest index of Asia-Pacific shares ex-Japan had edged up 0.4 per cent overnight following a positive finish for Wall Street on Monday. Japan's Nikkei also climbed 1.1 per cent, although weaker Chinese markets and regional technology shares capped the region. [.SS] Apple suppliers such as Taiwan's Hon Hai Precision Industry were hit by a report that Apple had told its smartphone assemblers to halt plans for additional production lines dedicated to the iPhone XR. The report had also driven Apple shares 2.8 per cent lower in U.S. trade. While political gridlock between the White House and Congress could hinder Trump's pro-business agenda and raise concerns about US political instability, some analysts say this may have already been priced in by investors. The Cboe Skew index, also known as the "black swan" index, hovered not far from its 2-1/2-year low hit on Friday, indicating demand for options that provide protection remains tepid. A higher skew typically indicates investors are buying more protection on heightened anxiety. "Unlike the US Presidential election or the UK's Brexit referendum, the upcoming US (midterm) elections are not a binary event," said Yasuo Sakuma, chief investment officer at Libra Investments. "So it's unlikely to send stocks significantly in one direction, apart from initial quick reactions." Safe-haven gold was little changed but in oil markets crude prices were down near multi-month lows after the United States allowed eight countries to continue buying oil from Iran temporarily, easing the likelihood of a sharp supply drop. US West Texas Intermediate (WTI) crude futures slipped 0.5 per cent to $62.80 a barrel, after hitting a seven-month low of $62.52 on Monday. Brent crude futures dropped 0.6 per cent to $72.74 a barrel, near Friday's 2-1/2-month low of $72.16. Both oil benchmarks have slid more than 15 per cent since hitting four-year highs in early October.

Global Markets: Stocks, dollar hunker down for US midterm elections

World shares slid towards their lowest level in a year on Tuesday, as negative drivers from fatigued earnings and Saudi Arabia's diplomatic isolation to a brewing spat over Italy's finances piled on the pressure.

Wall Street looked set to for another jolt lower when it reopens but it was heavy selloffs in both Asia and Europe, which was heading for the fifth day of uninterrupted falls, that did the main damage.

The tech sector posted the worst performance after Swiss-listed chipmaker AMS plunged 25 per cent as its outlook triggered alarm bells, but there was a broader force at play.

The pan-European STOXX 600 was near a two-year low with almost half of its stocks now in the bear-market territory -- down 20 per cent from their peak.

Germany's DAX dropped to late 2016 lows, MSCI's world share index was just two points of a one-year low while Wall Street's S&amp;P 500 was set to test the lower limits of its 200-day moving average again.

"This is quite an important period now because we have tried to rally a few times and haven't really managed it," said Natwest Markets' head of global strategy James McCormick.

There has been a spike in US&nbsp;bond yields similar to earlier in the year, "but the macro picture for equities is more challenging now," he added, pointing to fading synchronization in global growth as well a stronger dollar.

That strength kept the euro pinned near a two-month low at $1.146 before a European Commission meeting that could see Brussels take the unprecedented step of demanding changes to Italy's recently laid out budget plans.

Italian bond traders were biding their time amid reports of some conciliatory moves from Rome's coalition but the spat has also bred doubts about the European Central Bank plans to possibly raise its interest rates next year.

Questions about the future of Britain's prime minister, mired in a stalemate over Brexit, relented just an enough to help sterling claw higher but the mood remained distinctly 'risk off' regardless.

That helped strengthen the safe-haven Japanese yen and Swiss franc while higher-yielding currencies like the Australian and New Zealand dollars fell.

"The prospect of a normalisation of (ECB) monetary policy was the main reason why the euro was able to appreciate over the past year. However, there is a rising risk that this support is now going to crumble," Commerzbank analyst Thu Lan Nguyen said.

SAUDI TENSIONS

US stock index futures were pointing to a more than 1 per cent fall for Wall Streets main markets later. Digger maker Caterpillar's shares fell 5.4 per cent in premarket moves after it blamed US tariffs for rising costs, while 3M slumped 7 per cent after missing analysts estimates.

Markets were also digesting Turkish President Tayyip Erdogan's comments on the killing of Saudi Arabian journalist Jamal Khashoggi at a Saudi consulate in Istanbul this month.

"Intelligence and security institutions have evidence showing the murder was planned... Pinning such a case on some security and intelligence members will not satisfy us or the international community," Erdogan told Turkey's parliament, though he did not reveal a smoking gun in the form of recordings that some reports had hinted at.

Saudi Arabia, a top crude oil exporter, faces international pressure to provide all the facts about an incident that has raised a global storm and added the threat of sanctions against the kingdom to a list of market concerns.

US President Donald Trump said on Monday he was not satisfied with what he had heard from Saudi Arabia about the killing, but expressed reluctance to punish the kingdom economically.

Investors worry that may lead to Saudi retaliation through crude oil, although a Saudi pledge to play a "responsible role" and keep markets supplied held down crude prices on Tuesday.

Front-month Brent crude oil futures were at $79.51 a barrel, down 0.4 per cent. US West Texas Intermediate (WTI) crude futures were at $69.12 a barrel, dropping 0.35 per cent.

Asia's overnight tumble gave back some of the ground the region had clawed back over the last two sessions.

MSCI's broadest index of Asian shares dropped 2 per cent to a 1 1/2-year low, with declines in many of the region's heavyweight bourses even more pronounced.

South Korea's Kospi and Hong Kong's Hang Seng both fell 3 per cent and Japan's Nikkei lost 2.7 per cent.

"We've got a few negative factors when market sentiment was already fragile," said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management. "And earnings from some Japanese companies were weaker than expected, with some starting to blame trade wars."

The yen gained 0.4 per cent amid the risk-off mood to 112.42 to the dollar.

The yuan was little changed but stood near Monday's 21-month low of 6.9445 per dollar in the onshore trade on expectations China will pursue looser monetary policy to cope with pressure from US President Donald Trump on tariffs.

World shares slid towards their lowest level in a year on Tuesday, as negative drivers from fatigued earnings and Saudi Arabia's diplomatic isolation to a brewing spat over Italy's finances piled on the pressure.

World shares slid towards their lowest level in a year on Tuesday, as negative drivers from fatigued earnings and Saudi Arabia's diplomatic isolation to a brewing spat over Italy's finances piled on the pressure. Wall Street looked set to for another jolt lower when it reopens but it was heavy selloffs in both Asia and Europe, which was heading for the fifth day of uninterrupted falls, that did the main damage. The tech sector posted the worst performance after Swiss-listed chipmaker AMS plunged 25 per cent as its outlook triggered alarm bells, but there was a broader force at play. The pan-European STOXX 600 was near a two-year low with almost half of its stocks now in the bear-market territory -- down 20 per cent from their peak. Germany's DAX dropped to late 2016 lows, MSCI's world share index was just two points of a one-year low while Wall Street's S&P 500 was set to test the lower limits of its 200-day moving average again. "This is quite an important period now because we have tried to rally a few times and haven't really managed it," said Natwest Markets' head of global strategy James McCormick. There has been a spike in US bond yields similar to earlier in the year, "but the macro picture for equities is more challenging now," he added, pointing to fading synchronization in global growth as well a stronger dollar. That strength kept the euro pinned near a two-month low at $1.146 before a European Commission meeting that could see Brussels take the unprecedented step of demanding changes to Italy's recently laid out budget plans. Italian bond traders were biding their time amid reports of some conciliatory moves from Rome's coalition but the spat has also bred doubts about the European Central Bank plans to possibly raise its interest rates next year. Questions about the future of Britain's prime minister, mired in a stalemate over Brexit, relented just an enough to help sterling claw higher but the mood remained distinctly 'risk off' regardless. That helped strengthen the safe-haven Japanese yen and Swiss franc while higher-yielding currencies like the Australian and New Zealand dollars fell. "The prospect of a normalisation of (ECB) monetary policy was the main reason why the euro was able to appreciate over the past year. However, there is a rising risk that this support is now going to crumble," Commerzbank analyst Thu Lan Nguyen said. SAUDI TENSIONS US stock index futures were pointing to a more than 1 per cent fall for Wall Streets main markets later. Digger maker Caterpillar's shares fell 5.4 per cent in premarket moves after it blamed US tariffs for rising costs, while 3M slumped 7 per cent after missing analysts estimates. Markets were also digesting Turkish President Tayyip Erdogan's comments on the killing of Saudi Arabian journalist Jamal Khashoggi at a Saudi consulate in Istanbul this month. "Intelligence and security institutions have evidence showing the murder was planned... Pinning such a case on some security and intelligence members will not satisfy us or the international community," Erdogan told Turkey's parliament, though he did not reveal a smoking gun in the form of recordings that some reports had hinted at. Saudi Arabia, a top crude oil exporter, faces international pressure to provide all the facts about an incident that has raised a global storm and added the threat of sanctions against the kingdom to a list of market concerns. US President Donald Trump said on Monday he was not satisfied with what he had heard from Saudi Arabia about the killing, but expressed reluctance to punish the kingdom economically. Investors worry that may lead to Saudi retaliation through crude oil, although a Saudi pledge to play a "responsible role" and keep markets supplied held down crude prices on Tuesday. Front-month Brent crude oil futures were at $79.51 a barrel, down 0.4 per cent. US West Texas Intermediate (WTI) crude futures were at $69.12 a barrel, dropping 0.35 per cent. Asia's overnight tumble gave back some of the ground the region had clawed back over the last two sessions. MSCI's broadest index of Asian shares dropped 2 per cent to a 1 1/2-year low, with declines in many of the region's heavyweight bourses even more pronounced. South Korea's Kospi and Hong Kong's Hang Seng both fell 3 per cent and Japan's Nikkei lost 2.7 per cent. "We've got a few negative factors when market sentiment was already fragile," said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management. "And earnings from some Japanese companies were weaker than expected, with some starting to blame trade wars." The yen gained 0.4 per cent amid the risk-off mood to 112.42 to the dollar. The yuan was little changed but stood near Monday's 21-month low of 6.9445 per dollar in the onshore trade on expectations China will pursue looser monetary policy to cope with pressure from US President Donald Trump on tariffs.

Global Markets: Biting bears sink world shares to 1-year low

global-markets

Global Markets, News on Global Markets, stories on Global Markets, articles on Global Markets, Global Markets stories at Wion, Global Markets news, Global Markets latest news