Chinese shares plunged more than 4% at one point, while US stock market futures fell close to 2 %. The tweets upended the previously calm market mood that had benefited from signs of improving growth in China and the United States, and from comments from Trump and other senior U.S. officials that trade talks were going well. The Wall Street Journal reported on Monday that China was considering cancelling trade talks scheduled for this week following Trump's threats. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.6 percent shortly after China's markets reopened from a three-day national holiday. In commodity markets, U.S. crude plunged 2.9 percent at $60.17 a barrel and Brent crude fell 2.6 percent to $69.01 per barrel.

Source: Mint May 06, 2019 02:26 UTC