European stocks were under selling pressure on Wednesday after the United States announced new tariffs
2018-07-11 08:30 am | Resource: NEWS | No Views : 68
European stocks were under pressure on Wednesday after the United States announced it would impose a 10 percent tariff on additional Chinese imports worth $ 200 billion in an escalating trade conflict between the world's two largest economies.
Investors are now preparing to avenge Beijing. "The surge of large-scale tariffs will inevitably destroy China-US trade," Assistant Trade Minister Li Qin Gang told a forum in Beijing.
Asian markets are on a large-scale decline, with record indexes in China, Hong Kong and Japan falling by 1-2 percent.
US Treasuries rose and the dollar rose against the yuan as oil prices fell after the United States said it would consider requests from some countries to exempt it from Iranian sanctions.
Overnight, US stocks closed higher for the fourth day in a row with strong quarterly results for giant beverage company Pepsi Cola and helped investors shrug off trade concerns.
The Dow rose 0.6 percent and the S&P 500 gained 0.4 percent to its best close in five months while the Nasdaq Composite Index rose marginally.
European markets rose for a sixth consecutive day on Tuesday as investors looked for a strong quarterly earnings season.
The Stoxx European 600 index rose 0.4 percent. Germany's DAX rose 0.5 percent, France's CAC 40 gained 0.7 percent and the FTSE 100 rose 0.1 percent.
Time frame Used - four hours The NASDAQ 100 is moving in a bearish direction in the near term The purchasing power managed to control the movement of the NASDAQ 100 index to break the resistance level around 7315 levels to reach the level of 7380 where it faced resistance and selling pressure pushed it to retreat In view of the technical indicators Both the RSI and the Stochastic are…
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