Asian shares were stuck in the red on Thursday amid worries the Sino-U.S. trade ...
SYDNEY - Asian shares were stuck in the red on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world’s two largest economies.
After the United States placed Huawei Technologies on a trade blacklist last week, British chip designer ARM has halted relations with Huawei in order to comply with the blockade. The chance of a rate cut seemed to diminish as many Fed policy makers saw recent weakness in inflation as “transitory”, though the latest escalation in the trade war means markets are still wagering on an eventual easing.
The mood on Wall Street was cautious with the Dow ending Wednesday down 0.39%, while the S&P 500 lost 0.28% and the Nasdaq 0.45%. Prominent Brexit supporter Andrea Leadsom resigned from the government on Wednesday and British media reported May could announce her departure date as early as Friday.
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