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Wall Street set for steep fall at open as yuan slide deepens trade fears
China let the yuan breach the key 7-per-dollar level on Monday, a sign Beijing might be willing to tolerate more currency weakness that could further inflame the trade conflict with the United States. "People are fearful that (the latest round of levies) is going to make coming to an agreement on trade that much harder," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York. Wall Street's three main indexes fell sharply at the end of last week after President Donald Trump upended a temporary trade truce by threatening another round of tariffs on Chinese imports.
https://finance.yahoo.com/news/wall-street-set-steep-fall-130003568.html?.tsrc=rss
China let the yuan breach the key 7-per-dollar level on Monday, a sign Beijing might be willing to tolerate more currency weakness that could further inflame the trade conflict with the United States. "People are fearful that (the latest round of levies) is going to make coming to an agreement on trade that much harder," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York. Wall Street's three main indexes fell sharply at the end of last week after President Donald Trump upended a temporary trade truce by threatening another round of tariffs on Chinese imports.
https://finance.yahoo.com/news/wall-street-set-steep-fall-130003568.html?.tsrc=rss
