Asian shares dive as world braces for Trump-China trade war in TWO DAYS
Donald President Trump moving the US towards a trade war with China
Investors are on edge as China gets set to retaliate against Donald Trump on Friday, with the pair set to invoke tariffs against imports on the same day.
The MSCI index of Asia-Pacific shares outside Japan fell another 0.25 percent today, as markets remain on edge ahead of Friday’s tariffs.
Shares in mainland China also dropped, with the influential CSI300 Index down another 0.7 percent in the market carnage.
With trading limited in the US for the 4th July celebrations, Wall Street can catch its breath after the S&P 500 shed 0.49 percent at close yesterday, while the Nasdaq Composite dropped 0.86 percent.
At the close on Wall Street, the Dow Jones Industrial Average lost 0.54 percent. Household names such as Facebook shed 2.3 percent after more data breach revelations linked to Cambridge Analytica emerged, while Tesla lost 7.2 percent in reaction to the pace of making its highly-anticipated Model 3 sedans.