“Right now I wouldn’t encourage people to move one way or the other. There’s too much uncertainty,' says the CEO of Morgan Stanley
Either the rare-earth minerals scare was an excuse for nervous investors to cash in on some of this year’s still-solid equity gains, or we’ve reached a shaky new stage in the Sino-U.S. trade war.
“Right now we are seeing brinkmanship negotiations, so it is a risky time,” warned Ray Dalio, the founder of Bridgewater, the world’s biggest hedge fund in a fresh blog post. Even more dire was comments from Pimco’s Scott Mather, who spoke of the “riskiest credit markets ever” and warned that central banks have no ammunition to fight a coming slowdown.
“I don’t think we’re looking at a collapse [in equities]. I think we’re just looking at taking some of the excitement out of the markets that has been building in the last six months. The trade talks happen to be the catalyst driving that right now,” he said. If officials on both sides can get back to the table and “get us back on track, this could turn very quickly in terms of sentiment,” he said.
Europe stocks SXXP, +0.53% traded mostly, while Asian equities were mixed. China stocks SHCOMP, -0.31% finished slightly lower, while South Korea’s Kospi 180721, +0.77% rebounded 0.7%.
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