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Asian Shares Still Shocked By Trade War

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TOKYO (Reuters) - Chinese stocks went into a tail spin on Tuesday as turbulence gripped equity markets in Asia, which sank to nine-month lows amid heightened anxiety a bitter trade dispute between the United States and major economies could derail global growth. Speculation was rife China’s central bank was intervening in the currency market to staunch losses and prevent a potentially destabilizing sell-off in the yuan, while stocks came off a searing sell-off in the morning. Chinese financial markets have been jittery ahead of a July 6 deadline, when the U.S. is set to slap tariffs on $34 billion worth of Chinese goods that Beijing has vowed to match with tariffs on U.S. products.

Added on the 03/07/2018 06:30:28 - Copyright : Wochit

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