|03 October, 2019

Thursday outlook: Asian shares drop as US imposes tariffs on EU goods

On Wednesday, President Trump's administration announced the United States will impose tariffs on $7.5 billion of goods from the European Union

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 2, 2019.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 2, 2019.

Reuters/Brendan McDermid
  • Asian shares retreat on trade fears
  • Oil prices reverse early day losses
  • Most Middle East markets drop
  • Dollar drops, gold rises

Zawya brings you all the latest news and insights relevant to Middle East and global investors in equities, commodities and currencies.

Asian stocks slide as US tariffs on EU fan growth worries

Asian stocks skidded to a one-month low on Thursday after the United States opened a new front in its trade dispute with Europe by imposing tariffs, adding to already-growing market fears about global growth.

Oil steadies in rebound after jitters over economic outlook, U.S. inventories

Oil futures rebounded on Thursday, reversing losses earlier in the day, as fears over the worsening global economic outlook that hit prices hard in the previous session gave way to modest hopes for progress in resolving the U.S.-China trade war.

Mideast Stocks: Dubai leads losses as Gulf tracks decline in global markets

Middle East stocks fell on Wednesday, mirroring a decline in global shares, with Dubai particularly hard hit as property companies declined sharply.

Dollar languishes as weak U.S. jobs data sparks safety flight

The dollar nursed losses on Thursday, hitting near one-week lows against the euro and yen, amid signs of a slowdown in U.S. economic growth and a deepening of global trade tensions.

Gold rises as weak U.S. data fuels global slowdown worries

Gold prices extended their gains on Thursday as weaker-than-expected U.S. jobs data reinforced global economic slowdown fears and raised expectations of further monetary policy easing by the U.S. Federal Reserve.

Reporting by Gerard Aoun; Editing by Mily Chakrabarty)


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