With the Trump administration stoking the battle – fires with a tariff-spike on $200bn of Chinese goods and China planning to cut off the supply of rare-earth minerals, can the US-China trade war wreak havoc on traditional markets?
Whilst everyone hopes for better times, many believe that the US-China ‘sanction war’ will immobilise world economies and invoke a world recession. Blanqué, chief investment officer at Amundi, Europe’s largest fund manager warned that the threat of a trade war is shaking investor confidence and jolting more stable markets.
Chinas’ latest threat to restrict sales of rare earth minerals has global tech, electric and military industries on the alert and has put markets in a state of panic.
In London, the FTSE 100 dived more than 100 points to trade at about 7,168, while stock markets in Germany, Italy and France are behaving sluggishly. Japan’s Topix index of leading company shares dropped 0.9% and Hong Kong’s Hang Seng index dropped by 0.6%.
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