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  • Gagan Arora updated status
    Trade War Bruises Global Equity Markets
    Stocks slumped, the dollar gained and commodities slid as markets across Asia, Europe and the U.S. reeled from fresh salvos in the escalating trade war between the U.S. and China.

    The S&P 500 Index ended the longest rally in a month after the Trump administration said it will slap tariffs on an additional $200 billion of Chinese products. The Asian nation vowed to retaliate, helping to drive down shares in Europe and Asia. Metals bore the brunt of the reaction in commodities – copper, nickel and zinc all tumbled.

    The S&P 500 Index sank 0.5 percent as of 9:57 a.m. New York time.
    The Stoxx Europe 600 Index fell 1.3 percent, the biggest tumble in more than two weeks.
    The Topix Index declined 0.8 percent to 1,701.88.
    Hong Kong’s Hang Seng Index fell 1.1 percent, the largest fall in more than a week
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