Trade wars: Markets hit five-week low ahead of US-China talks – business live

Rolling coverage of the latest economic and financial news, as
Chinese vice-premier Liu He travels to Washington for crunch trade
talks

8.15am BST

The next few hours will be “absolutely crucial” for
the markets, says Han Tan, market analyst at
FXTM.

The paramount question of the day is – can the US and China
strike a trade deal by midnight Friday in Washington, or will
heightened tariffs kick in by 12:01AM? [or 5.10am BST
tomorrow].

Given the looming deadline, hope for a trade resolution appears
to be waning. Asian currencies are falling against the US Dollar,
while the Japanese Yen is gaining 0.1 percent at the time of
writing. Risk-off mood is clearly taking a hold on equity markets
across the region, as they are all trading in negative territory on
Thursday morning, except for Australian and Thai stocks.

8.07am BST

The Europe-wide Stoxx 600 index has shed 1% in early trading,
hitting a five-week low.

There are losses in Germany (-0.7%), France (-1.2%) and Spain
(-0.7%).

Source: FS – All-News2-Economy
Trade wars: Markets hit five-week low ahead of US-China talks – business live