Global stocks on defensive as US-China tensions spook investors | The Business Standard
Skip to main content
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
June 04, 2025

Sign In
Subscribe
  • Epaper
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JUNE 04, 2025
Global stocks on defensive as US-China tensions spook investors

Global Economy

Reuters
27 July, 2020, 08:10 am
Last modified: 27 July, 2020, 08:15 am

Related News

  • France's Macron calls for Asian coalitions as he warns of US-China divisions
  • Shares up slightly, dollar struggles as investors consider tariff truce
  • Global stocks, dollar surge as US, China agree 90-day tariff relief
  • Stocks and dollar fall as Trump's Fed attacks jangle nerves
  • Shares fall in Asia as Nvidia curbs fan worries, gold hits record

Global stocks on defensive as US-China tensions spook investors

Global shares lost steam late last week after Washington ordered China’s consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu

Reuters
27 July, 2020, 08:10 am
Last modified: 27 July, 2020, 08:15 am
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, January 14, 2020/ Reuters
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, US, January 14, 2020/ Reuters

US stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies.

S&P500 futures dropped 0.2% while Nasdaq futures lost 0.3%. Japan's Nikkei fell 1.3%, re-opening after a long weekend.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Global shares lost steam late last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Hopes of a quick US economic recovery are fading also as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70% "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

In addition to stimulus developments, investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index stood at its lowest level in nearly two years at 94.337.

The euro changed hands at $1.16525 having hit a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.2% to 105.93 yen, near Friday's four-month low of 105.68.

Gold rose 0.4% to $1,910.0 per ounce, near its record high of $1,920.4 touched in September 2011, as Sino-US tensions boosted the allure of safe haven assets, especially those not tied to any specific country.

Oil prices dipped in early trade on worries about the worsening relations.

Brent futures fell 0.46% to $43.14 per barrel while US crude futures lost 0.44% to $41.11.

Top News / World+Biz

Global stocks / US-China Tensions

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Illustration: TBS
    Govt eases tax burden for company funds
  • Freedom fighters in training. Photo: Courtesy
    Govt revises definition of freedom fighter, recognising physicians, nurses who treated the wounded
  • A charging port is seen on a Mercedes Benz EQC 400 4Matic electric vehicle at the Canadian International AutoShow in Toronto, Ontario, Canada, 13 February 2019. REUTERS/Mark Blinch
    Electric vehicle gets incentive package for local manufacturing

MOST VIEWED

  • Representational Image. Photo: Collected
    400 electric buses to join Dhaka’s public transport network
  • Official seal of the Government of Bangladesh
    Govt raises special incentive for employees to 15% from July
  • From left, National Citizen Party Convener Nahid Islam, BNP Standing Committee member Salahuddin Ahmed talking to reporters in Dhaka on Monday, 2 June 2025. Photos: TBS
    BNP, NCP exchange got heated during Monday's meeting with CA Yunus
  • Budget FY26: Housing sector may take a hit, flat prices set to rise
    Budget FY26: Housing sector may take a hit, flat prices set to rise
  • Pie chart showing revenue sources (NBR tax, foreign grants, etc.) and bar graph showing expenditure breakdown by sector (public services, interest payments, education, etc.) for Bangladesh's FY26 budget.
    Budget FY26 in infographics
  • Infograph: TBS
    Is the revenue target realistic?

Related News

  • France's Macron calls for Asian coalitions as he warns of US-China divisions
  • Shares up slightly, dollar struggles as investors consider tariff truce
  • Global stocks, dollar surge as US, China agree 90-day tariff relief
  • Stocks and dollar fall as Trump's Fed attacks jangle nerves
  • Shares fall in Asia as Nvidia curbs fan worries, gold hits record

Features

Illustration: TBS

The GOAT of all goats!

1d | Magazine
Photo: Nayem Ali

Eid-ul-Adha cattle markets

1d | Magazine
Sketch: TBS

Budget FY26: What corporate Bangladesh expects

2d | Budget
The customers in super shops are carrying their purchases in alternative bags or free paper bags. Photo: Mehedi Hasan

Super shops leading the way in polythene ban implementation

2d | Panorama

More Videos from TBS

Tesla not interested in manufacturing cars in India, big blow to Modi government

Tesla not interested in manufacturing cars in India, big blow to Modi government

10h | TBS World
What are Europe's chances of global leadership once the shadow of the United States is lifted?

What are Europe's chances of global leadership once the shadow of the United States is lifted?

1h | Others
Signs of strain in India-Canada relations

Signs of strain in India-Canada relations

12h | TBS World
What police are doing to reduce sufferings on road and to ensure safety

What police are doing to reduce sufferings on road and to ensure safety

12h | Podcast
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net