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Currency

Global shares, oil drop after Trump tariff threat

Updated : May 06, 2019 02:07 PM IST

Equity markets, which have been largely expecting the two sides to reach a trade agreement soon, fell sharply as further talks to end their bruising trade war were thrown into doubt.
Chinese shares plunged more than 6 percent, while US stock market futures fell 1.6 percent. Oil prices sank and the Chinese yuan weakened sharply.
The rout is set to continue in Europe. Financial spreadbetters expect Frankfurt's DAX to open 1.7 percent lower at 12,207, and Paris' CAC to open down 1.6 percent at 5,462. London is closed for a bank holiday.
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