{"id":123282,"date":"2018-03-15T07:07:57","date_gmt":"2018-03-15T11:07:57","guid":{"rendered":"http:\/\/countingpips.com\/?p=123282"},"modified":"2018-06-01T15:42:14","modified_gmt":"2018-06-01T15:42:14","slug":"trade-war-fears-weigh-on-markets","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/03\/trade-war-fears-weigh-on-markets\/","title":{"rendered":"Trade war fears weigh on markets"},"content":{"rendered":"
March 15, 2018<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dow, SP 500 end lower third session<\/h2>\n<\/div>\n<\/div>\n

US stocks\u00a0<\/b>continued retreating on Wednesday on rising trade war concerns after President Trump\u2019s announcement he is considering tariffs to trim the US\u2019s trade deficit with China by $100 billion. The\u00a0S&P 500<\/a>\u00a0slipped 0.6% to 2749.48, led by materials and industrial shares. The\u00a0Dow Jones\u00a0<\/em>industrial fell 1% to 24758.12.\u00a0Nasdaq\u00a0<\/em>composite index lost 0.2% to 7496.81.The dollar strengthened slightly: the\u00a0live dollar index<\/a>\u00a0data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, rose 0.1% to 89.75. Stock indices futures indicate higher openings today.<\/p>\n

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Trade war concerns weigh on market sentiment with stock valuations at historical highs. Recent changes in White House personnel add to policy uncertainty. Trump appointed Central Intelligence Agency Director Mike Pompeo Secretary of State and named Lawrence Kudlow, an economic commentator, as director of the National Economic Council. Kudlow has supported Trump\u2019s tax cuts but opposes tariffs. Economic data were positive: the producer price index showed wholesale inflation up 0.2% in February, above expectations of an 0.1% rise. Retail sales fell 0.1% in February, the third straight monthly decline. However, sales excluding autos and gas grew 0.3%.<\/p>\n<\/div>\n<\/div>\n

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DAX edges higher while European indices slip<\/h2>\n<\/div>\n<\/div>\n

European stocks\u00a0<\/b>extended losses on Wednesday erasing earlier gains as Wall Street slide continued. Both the\u00a0euro<\/em>and\u00a0British Pound\u00a0<\/em>turned lower against the dollar. The Stoxx Europe 600 fell 0.2%. Germany\u2019s\u00a0DAX 30\u00a0<\/em>rose 0.1% settling at 12237.74 helped by Adidas\u2019 11% jump on outlook upgrade. France\u2019s\u00a0CAC 40\u00a0<\/a>lost 0.2% and UK\u2019s\u00a0FTSE 100\u00a0<\/em>slid 0.1% to 7132.69. Indices opened 0.1% – 0.4% higher today.<\/p>\n

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Euro fell after a speech by European Central Bank President Mario Draghi in Frankfurt suggested the ECB may keep interest rates low in the medium term. He said \u201cthere is a very clear condition for us to bring net asset purchases to an end: we need to see a sustained adjustment in the path of inflation toward our aim, which is a headline inflation rate of below, but close to 2% over the medium term,\u201d and that \u201cthe performance of underlying inflation remains subdued compared with previous recoveries.\u201d<\/p>\n<\/div>\n<\/div>\n

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Asian markets mixed<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b>\u00a0are mixed today with traders wary about possible trade war after President Trump\u2019s move to impose import tariffs.\u00a0Nikkei\u00a0<\/em>ended 0.2% higher at 21810.50 despite continued yen strengthening against the dollar. China\u2019s stocks are higher: the\u00a0Shanghai Composite Index\u00a0<\/em>is 0.01% higher and Hong Kong\u2019s\u00a0Hang Seng Index\u00a0<\/em>is up 0.3%. Australia\u2019s All Ordinaries Index is down 0.2% despite Australian dollar\u2019s turn lower against the greenback..<\/p>\n

\"NIKKEI\"<\/p>\n

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Brent\u00a0<\/a>slides<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices\u00a0<\/b>are retreating today on rising US crude output. Prices rose yesterday as gasoline futures advanced after report US gasoline supplies fell while crude supplies rose. The US Energy Information Administration reported Wednesday that domestic crude supplies rose by 5 million barrels last week but gasoline stockpiles dropped 6.3 million barrels. May Brent crude rose 0.4% to $64.89 a barrel on Wednesday.<\/p>\n

\nMarket Analysis provided by IFCMarkets<\/a><\/p>

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Note:
\nThis overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or \u0430 recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.<\/p>\n","protected":false},"excerpt":{"rendered":"

By IFCMarkets Dow, SP 500 end lower third session US stocks\u00a0continued retreating on Wednesday on rising trade war concerns after President Trump\u2019s announcement he is considering tariffs to trim the US\u2019s trade deficit with China by $100 billion. The\u00a0S&P 500\u00a0slipped 0.6% to 2749.48, led by materials and industrial shares. The\u00a0Dow Jones\u00a0industrial fell 1% to 24758.12.\u00a0Nasdaq\u00a0composite […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-123282","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=123282"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123282\/revisions"}],"predecessor-version":[{"id":123302,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/123282\/revisions\/123302"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=123282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=123282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=123282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}