Our analysts have their fingers on the pulse of the world's financial market news.
Wild trading in Amazon shares and other tech stocks on Wall Street is spreading to Europe. It remains a very sentiment driven market. Europe is playing catch up to Wall Street where markets were open on Easter Monday.
Even if the president Trump succeeds in increasing taxes or raising shipping costs for Amazon, that should have no direct bearing on international companies. Because Amazon has been one of the U.S. market leaders, the decline in its share price has investors scrambling replacements.
The breach of some key technical levels in US markets
Concern that the U.S. and China are on the cusp of a trade war just will not go away. On Monday China announced that it has implemented afforementioned tariffs on 128 types of US goods. Implementing the tariffs makes China’s response to Trump’s steel and aluminum tariffs official. China has to show it is serious. We still expect a settlement in trade negotiations between the two nations. Sentiment will be fragile until the result of trade negotiations become clear.
Adding to trade war worries, Trump linked the need for a border wall with Mexico to ongoing NAFTA trade re-negotiations. Gold, the dollar and the Japanese yen benefited from haven flows on Monday but are retracing some of those moves on Tuesday.
On Tuesday, manufacturing
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