FYI: Global stocks dropped on Monday as investors grappled with the latest impasse in trade talks between China and the U.S.
U.S. futures pointed to opening drops of 1.2% for both the Dow Jones Industrial Average and the S&P 500.
The yuan was down 0.8% on Monday at ¥6.88 to the dollar on Monday as trade tensions lingered.
Global benchmark Brent crude oil was up 1.6% at $71.77 after reports that two Saudi Arabian oil tankers were damaged near the Strait of Hormuz this weekend.
Meanwhile, in Europe the Stoxx Europe 600 was down 0.5% in opening trading. In Asia, the Shanghai Stock Exchange dropped 1.2%, Korea’s Kospi dipped 1.4% and Japan’s Nikkei fell 0.7%.
U.S. futures pointed to opening drops of 1.2% for both the Dow Jones Industrial Average and the S&P 500.
European markets were led lower by the communications and consumer durables sectors. Among the biggest losers was telecom giant Vodafone Group , which dropped 4.2% after reports the company was set to cut dividends. Upstart U.K. lender Metro Bank, which has been rocked by accounting mistakes in recent months, dropped 5.3%.
Markets across the globe have turned volatile in recent sessions as U.S.-China trade talks stumbled. Last week, the S&P 500 dropped more than it has in any week since before Christmas, before U.S. officials signaled some progress in trade talks and Federal Reserve officials suggested monetary policy would remain easy for the near future.
European markets was led lower by the communications and consumer durables sectors. Among the biggest losers on Monday was telecom giant Vodafone Group, which dropped 3.7% after reports the company was set to cut dividends. Upstart U.K. lender Metro Bank, which has been rocked by accounting mistakes in recent months, dropped 3.1%.
The yuan was down 0.7% on Monday at ¥6.87 to the dollar on Monday.
The 10-year U.S. Treasury yield ticked down to 2.425% from 2.455% on Friday. Yields move inversely to prices. German 10-year government bonds were still in negative territory at -0.051%.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was up 0.1%.
In commodities, global benchmark Brent crude oil was up 1.6% on Monday morning at $71.75 after reports that two Saudi Arabian oil tankers were damaged near the Strait of Hormuz this weekend.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/dow-futures-drop-over-200-points-as-u-s-china-trade-talks-appear-stalled-2019-05-13/printWSJ:
https://www.wsj.com/articles/global-stocks-stumble-on-renewed-trade-anxiety-11557734434?mod=hp_lead_pos1Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-12/yen-advances-yuan-slips-as-trade-war-escalates-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-china-trade-war-pressures-apple-stock-market-rally/Reuters:
https://www.reuters.com/article/usa-stocks/us-stocks-futures-point-to-steep-losses-at-open-as-trade-tensions-worsen-idUSL4N22P2SFCNBC:
https://www.cnbc.com/2019/05/13/us-markets-react-to-china-trade-war-news-and-more.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-lower-as-investors-disconnect-from-vodafone-idUKKCN1SJ0N7Europe:
https://www.reuters.com/article/europe-stocks/update-1-european-shares-hit-seven-week-lows-amid-u-s-china-trade-standoff-idUSL5N22P1NWAsia:
https://www.marketwatch.com/story/asian-stocks-move-lower-monday-as-markets-react-to-failed-us-china-trade-talks-in-washington-2019-05-13/printBonds:
https://www.cnbc.com/2019/05/13/us-bonds-us-china-trade-tensions-remain-in-focus.htmlCurrencies:
https://www.cnbc.com/2019/05/13/forex-market-us-china-trade-war-g20-summit-in-focus.htmlOil:
https://www.cnbc.com/2019/05/13/oil-market-us-china-trade-war-global-economy-in-focus.htmlGold:
https://www.cnbc.com/2019/05/13/gold-market-us-china-trade-talks-tariff-war-in-focus.htmlCuirrent Futures:
https://finviz.com/futures.ashx 
