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Markets Hear What it Wants from China's Chief Negotiator, but HK maybe New Obstacle
Overview: The strongest signs to date that even phase one of a US-China trade deal is proving elusive helped spur the risk-off mood that had already been emerging. The S&P 500 fell by the most in a month (~-0.40%) yesterday, closing the gap from last week we had noted was the risk, and follow-through selling was seen in Asia Pacific and Europe. Hong Kong, South Korea, and Singapore equity markets fell more than 1% to lead today's sell-off. However, comments from China's chief negotiator that he was still "cautiously optimistic" that a deal will be struck lifted the markets off their intraday lows. European ... (full story)