Stocks slide, gold jumps as investors shun risk [Yahoo! Finance]
INVESTEC LTD UNSP/ADR (ITCFY)
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Source: Yahoo! Finance
Tuesday, as investors grew uneasy over tensions between the United States and China before talks between the two countries aimed at striking a durable trade deal. Markets had earlier joined the rebound from Monday's cash session after U.S. Treasury Secretary Scott Bessent said President Donald Trump remains on track to meet Chinese leader Xi Jinping in South Korea for a two-day summit starting on October 31. But he added fuel to the fire in an interview in the Financial Times where he accused Beijing of trying to damage the global economy. As negotiations between Washington and Beijing intensify, the two nations from Tuesday were charging port fees on ocean shipping firms that move goods ranging from toys to crude oil. 'ESCALATE TO DE-ESCALATE' "Both Washington and Beijing are posturing before the November summit - escalate to de-escalate," said Marc Velan, head of investments at Lucerne Asset Management in Singapore. "Neither can afford a trade war heading into U.S. midterms.
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