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Stocks, metals feel the heat as new US-China trade war rattles markets

Shanghai markets were hardest hit overnight, with stocks there down almost 2 per cent and the yuan weakening towards last week's 11-month lows, down 0.4 per cent to 6.66 per dollar

Reuters  |  London/New York 

Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as US threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies ever closer to a full-scale trade war. The detailing overnight of US President Donald Trump’s already-threatened 10 per cent tariffs on an additional $200 billion of Chinese goods dampened hopes that Washington will eventually step back from the escalating row. The clock now starts ticking on a two-month period of public comment before the levies get imposed. Trump has said he may ...

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First Published: Wed, July 11 2018. 23:31 IST