Asian shares hobbled near four-month lows on Friday and crude oil plunged on wor...
Tokyo - Asian shares hobbled near four-month lows on Friday and crude oil plunged on worries the U.S.-China trade spat was developing into a more entrenched strategic dispute between the world’s two largest economies, pushing investors to safe-haven assets.
U.S. President Donald Trump said on Thursday that Washington’s complaints against Huawei Technologies might be resolved within the framework of a U.S.-China trade deal, while at the same time calling the Chinese telecommunications giant “very dangerous.” Chotaro Morita, chief fixed income strategist at SMBC Nikko Securities said big falls in U.S. manufacturing survey appear to reflect expectations of a breakdown in the U.S-China trade talks.
The greenback at one point hit its highest level in two years against a basket of six major currencies and the euro slumped to levels last seen in May 2017 as a recovery in euro zone business activity was weaker than expected.
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