Donald Trump’s government has closed the Chinese consulate in Houston (Niall Carson/PA)The London markets slumped as Donald Trump caused a potential escalation in diplomatic tensions with China. European traders were left shaken as concerns over the shutdown of the Chinese consulate in Texas hit stocks, with focus drifting away from still significant Covid-19 stresses. The FTSE 100 closed 62.63 points lower at 6,207.1p at the end of trading on Wednesday. David Madden, market analyst at CMC Markets UK, said: “Rising tensions between the US and China dampened the mood in the markets. “The US government ordered the closure of China’s consulate in Houston, and the Beijing administration has vowed to retaliate.

Source: Irish Independent July 22, 2020 16:52 UTC