US indices suffered their worst weekly losses for more than two years amid worries about trade war and higher interest rates - two factors that may slow global growth.
Dow Jones Industrial Average, S & P 500 and Nasdaq composite recorded losses of 5.7%, 6% and 6.5%, respectively.
In the new week, the focus will fall on Trump, who is expected to announce the list of Chinese companies that will be subject to tariffs within 15 days. The Chinese government's response will also be interesting and, according to sources, they have already outlined over 125 U.S products to be subject to tariffs. With these measures on both sides, the trade conflict seems inevitable, and these are another badge of bad news for investors.
The technology sector seems to suffer the most, being subject to strong tariff interest from the US and China.
Facebook, on the other hand, puts the sector under even more strain, with Mark Zuckerberg's company plunging all the technology stocks over the past week. The investigation into the unauthorized use of personal data continues with full steam, and for now it seems that nothing can stop the free fall of the stocks.
Source: Bloomberg Pro Terminal
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