Singapore/Hong Kong: In the end, all it took was two tweets from Donald Trump. S&P 500 Index futures slid 1.5% and the Shanghai Composite fell 5.6%, the most since February 2016. “Market pricing assumed there would be some kind of a deal, and no further escalation in tariffs. Moves by commodity trading advisers, or CTAs, could be triggered around 2,883 on the S&P 500, according to Nomura’s McElligott. The key is whether the tweets prove to be an epic incidence of poker playing or “a raging miscalculation with vigilante markets," McElligott said.

Source: Mint May 06, 2019 13:07 UTC