Shares slide on fear trade spat is now a tech cold war [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
Shares slide on fear trade spat is now a tech cold war NEW YORK (Reuters) - shares skidded further 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, leading oil prices to plunge and strengthening the dollar. Worries over German manufacturing, the impact of the trade war on Asian economies and deepening concerns over Brexit and European parliamentary elections have curbed risk appetite and sent investors scurrying to perceived safe-haven assets. The dollar hit its highest level in two years against a basket of six major currencies and the euro slumped to levels last seen in May 2017 as a recovery in euro zone business activity was weaker than expected. Stocks tumbled on Wall Street and yields on the benchmark 10-year U.S. Treasury note fell to their lowest since December 2017 as IHS Markit data showed U.S. manufacturing growth in May posted its weakest pace of activity in nearly a deca
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