Asian shares fell on Monday morning, while gold prices held firm as investors wo...
SHANGHAI - Asian shares fell on Monday morning, while gold prices held firm as investors worried a prolonged Sino-U.S. trade war could tip the world and U.S. economies into recession.
Australian shares dipped about 0.1% while the South Korean market clawed back from early losses to rise 0.12%.U.S. shares finished lower on Friday after U.S. President Donald Trump said that Washington was continuing trade talks with Beijing, but that the U.S. was not going to make a deal for now. The uncertainty and lack of progress around the talks have kept financial markets on edge over recent months, with investors pulling out funds from riskier assets amid the slowdown in global growth and corporate profits.
“Cross asset correlations and money flow continue to tell that this funk in markets is a genuine result of fear and uncertainty from traders and investors,” said Greg McKenna, strategist at McKenna Macro.
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