Stocks Fall as Trade Tensions Spur Dash for Safety скачать в хорошем качестве

Stocks Fall as Trade Tensions Spur Dash for Safety

Dana D'Auria, Co-Chief Investment Officer at Envestnet, discusses how investors are shrugging off geopolitical headwinds. Resurgent trade tensions slammed Wall Street anew Tuesday, sending stocks, crypto and oil lower while reinforcing a bid for the safest corners of the market from haven currencies to gold. After a one-session respite, risky assets whose valuations have ballooned amid bets on artificial-intelligence frenzy and rate cuts, slid. That was after China sanctioned the US units of a South Korean shipping giant and threatened more retaliation. The S&P 500 fell as much as 1.5%, before paring losses. The drop came despite good results from big banks. A gauge of megacaps sank 1.3%. Cryptocurrencies continued to lose ground after a historic round of liquidations that triggered a selloff over the weekend, with Bitcoin down 3.7%. The dollar rose against all developed-world peers except the Japanese yen and the Swiss franc. Global bonds were bid, though Treasuries saw small moves. China’s moves escalate a long-standing dispute with the US over maritime dominance. Both sides have already slapped special port fees on each other’s vessels, while the US has rallied allies to help it revive a moribund American shipbuilding industry. The battle has implications for the global economy, as vessels are responsible for moving more than 80% of international trade. “China might need the US a lot more than the US needs China, but the US still does need them,” said Matt Maley at Miller Tabak. “Therefore, as much as earnings season will be very important going forward, the tariff/trade issue has suddenly become issue number one again.” Later Tuesday, a speech from Federal Reserve Chair Jerome Powell could bring clues on policy. The outlook has become tricky to gauge amid a government shutdown and renewed trade tensions. Fed Vice Chair for Supervision Michelle Bowman said new stress test proposals are coming soon, a move that lenders are likely to cheer. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake