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1.Market Observations, 2.share trading, 8.Was Sticky

7 Aug 2019 (AFR) – Markets caught in trade war crossfire

(7 August 2019, AFR, p1, Robert Guy and William McInnes)

S&P/ASX 300 index (Bloomberg, AFR)

S&P/ASX 300 index (Bloomberg, AFR)

‘The Australian sharemarket plunged 2.5 per cent after the US escalated hostilities in its tit-for-tat trade war with China by labelling it a currency manipulator, pushing yields on Australian 10-year government bonds below 1 per cent for the first time. The Trump administration’s aggressive response to Beijing’s decision to allow the yuan to weaken to past 7 against the US dollar elevated fears about the outlook for Australian and global growth at a time when activity is already decelerating. The slump in stocks, the biggest since October, wiped $50 billion from the sharemarket. The S&P/ASX200 Index is down 5 per cent from its record high on July 30.’

Read more (and see another graph)  at AFR.com (might need AFR log in access, or try: AFR.com/trial)

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Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.

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