{"id":152670,"date":"2019-08-02T07:50:00","date_gmt":"2019-08-02T11:50:00","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=152670"},"modified":"2019-08-02T07:42:07","modified_gmt":"2019-08-02T11:42:07","slug":"sp500-logs-fourth-straight-loss-after-trump-announces-new-china-tariffs","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/sp500-logs-fourth-straight-loss-after-trump-announces-new-china-tariffs\/","title":{"rendered":"SP500 logs fourth straight loss after Trump announces new China tariffs"},"content":{"rendered":"
August 2, 2019<\/div>
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By IFCMarkets<\/a><\/p>\n

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Dollar weakens as manufacturing slows<\/h2>\n<\/div>\n<\/div>\n

US stock indexes <\/b> relinquished early gains on Thursday after President Trump tweeted US will impose a 10% tariff on $300 billion of Chinese imports from September 1. The S&P 500 <\/em> lost 0.9% to 2953.56. The Dow Jones <\/em> industrial average fell 1.1% to 26583.42. Nasdaq <\/a> composite index slid 0.8% to 8111.12. The dollar weakening resumed as manufacturing indexes of both ISM and Markit indicated manufacturing expansion slowed in July: the live dollar index<\/a> data show the ICE US Dollar index, a measure of the dollar\u2019s strength against a basket of six rival currencies, fell 0.2% to 98.38 and is lower currently. Stock index futures point to lower market openings today<\/p>\n

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CAC 40 leads European indexes advance<\/h2>\n<\/div>\n<\/div>\n

European stocks <\/b> extended gains on Thursday on back of strong quarterly results. EUR\/USD<\/em> turned higher while GBP\/USD <\/em> accelerated its decline yesterday as the Bank of England (BOE) held interest rates steady at 0.75%. Both pairs move in previous session\u2019s directions currently. The Stoxx Europe 600 index ended 0.4% higher. Germany\u2019s DAX 30 <\/a> gained 0.5% to 12253.15. France\u2019s CAC 40 <\/em> rose 0.7% while UK\u2019s FTSE 100 <\/em> slipped 0.03% to 7584.87 as BOE cut its growth forecast to 1.3% for 2019 and 2020, down from 1.5% and 1.6% respectively.<\/p>\n

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Hang Seng leads Asian indexes losses<\/h2>\n<\/div>\n<\/div>\n

Asian stock indices<\/b> are sharply lower today as President Trump tweeted about 10% tariffs to take effect September 1 on an additional $300 billion of Chinese imports after US negotiators briefed him of the recent trade meeting in Beijing. Nikkei <\/em> fell 2.1% to 21087.16 as yen slowed its slide against the dollar. Chinese shares are tumbling as Chinese officials expressed their disagreement saying additional tariffs is not a constructive way to resolve economic and trade frictions: the Shanghai Composite Index <\/em> is down 1.4% and Hong Kong\u2019s Hang Seng Index <\/em> is 2.4% lower. Australia\u2019s All Ordinaries Index slid 0.3% as Australian dollar resumed its climb against the greenback.<\/p>\n

\"HK50<\/p>\n

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Brent <\/a> rising<\/h2>\n<\/div>\n<\/div>\n

Brent futures prices <\/b> are recovering today. Prices sank yesterday: October Brent crude lost 7% to $60.50 a barrel on Thursday.<\/p>\n<\/div>\n<\/div>\n

Market Analysis provided by IFCMarkets<\/a><\/p>\n

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 Dollar weakens as manufacturing slows US stock indexes relinquished early gains on Thursday after President Trump tweeted US will impose a 10% tariff on $300 billion of Chinese imports from September 1. The S&P 500 lost 0.9% to 2953.56. The Dow Jones industrial average fell 1.1% to 26583.42. Nasdaq composite index slid 0.8% […]<\/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-152670","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/152670","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=152670"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/152670\/revisions"}],"predecessor-version":[{"id":152680,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/152670\/revisions\/152680"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=152670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=152670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=152670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}