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Global Stocks Drop On Signs Of An Expanding Trade War

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According to Reuters, Global equities tumbled and safe-haven sovereign bonds surged Friday after President Donald Trump’s unexpected threat of tariffs on Mexican goods added to fears that escalating trade wars will push the U.S. and other major economies into recession. The yield on Germany’s 10-year government bond - regarded as one of the safest assets in the world - fell to a record low while U.S. Treasury yields slipped to 20-month lows. Washington says it will impose a 5% tariff beginning June 10, which would then rise steadily to 25% until illegal immigration across the southern border is stopped. Trump tweeted the decision late Thursday, catching markets by surprise.

Added on the 31/05/2019 11:27:20 - Copyright : Wochit

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