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China shares slump, yuan down as U.S. raises stakes in trade row

Reuters  |  SHANGHAI 

By Andrew Galbraith and Winni ZhouSHANGHAI (Reuters) - China's shares tumbled in a broad sell-off, and the yuan weakened on Wednesday after the United States threatened further import duties on Chinese goods in a sharp escalation of the trade conflict between the world's two biggest economies.Washington's latest move, which comes just days after both countries imposed tit-for-tat tariffs on $34 billion of each other's goods, ups the ante in a heated trade dispute that has rattled global financial markets.The Shanghai Composite index was 1.9 percent lower at the midday break, while the ...

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First Published: Wed, July 11 2018. 09:16 IST