The major assets groups remains in Risk-off mode after the assets bear the charge of escalating trade war rhetoric and concerns about its impact on the global growth. Stoxx 600 falls to its lowest since May, futures beyond the ocean signals that the S&P will fall to its April levels. The sell off is following the sentiment in Asia, where almost everyone was trading in red, and shares in Shanghai slid to their lowest levels since 2016. Commodities are also under pressure, with metals falling into a losing series for four straight days.
Demand for safe havens strengthened the yen and the Swiss franc, while the euro weakened against the dollar. Turkish lira and rubles are at the forefront of sell-offs in emerging market currencies, with NOK and SEK also sliding.
Source: Bloomberg Finance L.P.
Trader Georgi Bozhidarov