Asian stocks skidded to a one-month low on Thursday after the United States open...
TOKYO - Asian stocks skidded to a one-month low on Thursday after the United States opened a new front in its trade dispute with Europe by imposing tariffs, adding to already-growing market fears about global growth.
Yields on two-year U.S. Treasury yields fell as weakening data on manufacturing and the jobs market suggested the trade war with China has damaged the U.S. economy. On Wednesday, President Donald Trump’s administration announced the United States will impose tariffs on $7.5 billion of goods from the European Union.
The tariffs announced Wednesday were approved by the World Trade Organization but could still cause friction across the Atlantic. “The U.S. economy is finally starting to slow, because of trade friction and problems in the manufacturing sector,” he said. “People in the markets want to see if this leads to weaker job growth.”
Bets on a rate cut could rise further if U.S. non-farm payrolls due on Friday show weakness in the labor market.fell 0.6% as anti-government demonstrators clashed with police into the early hours of Thursday, venting their anger over a policeman's shooting and wounding of a teenager.
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