GLOBAL MARKETS-Shares skid on view trade spat morphing into tech cold war [Reuters]
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Source: Reuters
GLOBAL MARKETS-Shares skid on view trade spat morphing into tech cold war * European shares follow Asia into the red * Asia ex-Japan hits 4-month low, China shares drop * Yen, sovereign bonds buoyed by safe-haven bid * Pound tests $1.26 on worries PM May may make way for hard Brexiteer * Oil prices nurse losses as inventories build * FX rates in 2019 tmsnrt.rs/2egbfVh * Asian stock markets: tmsnrt.rs/2zpUAr4 By Marc Jones LONDON, May 23 (Reuters) - shares skidded lower on Thursday as concerns grew that the China-U.S. trade conflict was fast turning into a technology cold war between the world’s two largest economies and that Brexit was heading for another unpredictable twist. Asian stocks had caved to a four-month low as the trade rhetoric rumbled, while dour German data, a 3% plunge in carmaker stocks and the sight of Italian banks sliding back in a ‘bear’ market meant more damage for Europe. U.S. stock futures pointed to a weak start too with the S&P 500 e-minis and Nasdaq futures
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