Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
The Breakfast Briefing: Global Stocks Pause As Trade Tensions Hit Earnings Forecasts
FYI: Global stocks were subdued Tuesday amid fresh concerns about potential spillover effects from trade tensions and slowing growth in China.
The Stoxx Europe 600 was flat in morning trading following its biggest daily decline in about a month, weighed down by falls in the auto and tech sectors. Markets in Asia pared their declines in late trading, while futures pointed to small opening losses for the S&P 500 after its closed lower on Monday.
Worries about China’s trade and economic position were widely cited as a catalyst for the pause in January’s stock-market rally. In the U.S., shares of Caterpillar dropped sharply Monday after setting lower-than-expected profit targets for 2019, citing slowing growth in China, while Nvidia also fell after the chip maker cut its guidance in part due to a faltering Chinese economy.
Adding to investor concerns, the Trump administration unveiled a sweeping set of criminal charges against China’s Huawei Technologies. In the cases unsealed Monday, federal prosecutors accused Huawei of violating U.S. sanctions on Iran and of stealing trade secrets from a U.S. business partner. Regards, Ted
