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Home / World / Faced with fears that China might pay more, stocks break a four-day winning streak

Faced with fears that China might pay more, stocks break a four-day winning streak



Mexico and the US announced a bilateral trade agreement on Monday, paving the way for a NAFTA replacement. Both countries have also opened the door to Canada to join the agreement.

Worries over trading had curbed stock gains in recent months as investors assessed the potential impact of protectionist trade policies on the global economy

Trade was net positive for equities, with some risks for investors said Larry Benedict, CEO of The Opportunistic Trader.

"There are some differences between the US and the rest of the world," said Benedict. "If you look at the European and Asian markets, … many of them" have fallen for the month, while US equities have gone up a lot during that time. Benedict also said he expects volatility to pick up again after the start of September as more traders return from vacation.

Emerging market stocks tumbled on Thursday as a stronger dollar hit the Turkish lira and the Argentine peso sharply lower. The iShares Emerging Markets ETF (EEM) lost 2.6 percent. The lira fell 3 percent to $ 6.66 per dollar, while the peso fell more than 1

0 percent to a record low.

"The European Championship is weak amid concerns about Turkey and Argentina," said Michael Shaoul, Chairman and CEO of Marketfield Asset Management. "It's starting to trade a bit with the US, but the movements in the US are pretty small."

U.S. Investors came to Thursday's session after Chinese stocks led a generally weak session in Asia. The Shanghai Composite fell 1.1 percent, while the Nikkei 225 rose marginally.

The Cboe Volatility Index, widely regarded as the best of its kind in the market, rose to its highest level since 17 August.

Unemployment claims rose slightly to 213,000 last week, but remained close to multi-year lows, as the underlying trend is still pointing to a worsening labor market. Personal income rose by 0.3 percent in July.

Electronic Arts' share plunged more than 9.5 percent after the video game company delayed the release of the popular Battlefield V game and adjusted its net bookings forecast. 19659011]
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