Sources say the trade truce plan has met with US opposition, with European and Asian stocks retreating from the previous session’s highs
London — Uncertainty about the fate of the trade negotiations between the US and China kept markets on their toes on Friday, with European stocks benchmarks mimicking their Asian peers and retreating from the previous session’s highs.
“The trade deal is the predominant driver” for markets at the moment, said Lars Kreckel, global equity strategist at Legal & General Investment Management, noting that this morning dip in markets was a just knee-jerk reaction to the latest news on the US-China front. Germany’s DAX 30, a gauge of investors’ sentiment on trade, moved in synchronicity with the rest of the market and eased 0.4%.
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