Asians stocks fall on US-China trade tensions, yen rises

04 April, 2018, 01:48 | Author: Martin Tyler

Amazon AMZN.O dropped more than 4 percent after President Donald Trump launched his latest attack over the pricing of the online retailer's deliveries through the USA postal system and promised unspecified changes.

A bigger dispute looms over Trump's approval of possible higher duties on Chinese goods.

Wholesale gasoline added 1 cent to $1.97 a gallon and heating oil rose 1 cent to $2 a gallon.

China raised import duties on a $3 billion list of USA goods in response to US tariffs on imported steel and aluminum. There are a number of points of contention between China and Washington, Europe and Japan over a state-led economic model they complain hampers market access, protects Chinese companies and subsidizes exports in violation of Beijing's free-trade commitments. The euro rose to $1.2325 from $1.2302. After peaking at nearly $1,600 a share last month, Amazon has slumped with the market recently.

The price of gold climbed $19.60, or 1.5 percent, to $1,346.90 an ounce and silver jumped 40 cents, or 2.5 percent, to $16.67 an ounce as some investors took money out of stocks and looked for safer investments. Trump has repeatedly criticized Amazon over issues including taxes and Amazon's shipping deals with the U.S. Postal Service. "There isn't an agency that goes through Trump's tweets and acts on them", she said. Intel plunged $4.05, or 7.8 percent, to $48.04.

Mohamed Salah nearly unstoppable, says Liverpool defender Virgil van Dijk
As his manager, I'd say 'come on, prove it by playing at this level for the rest of the season.' That's how it is. Everyone knows our team spirit and without all of us Mo wouldn't have scored his goals.

Shares of USA tech giants, including Facebook, Netflix and Google parent Alphabet, all declined overnight in the first trading session of the month, having first sold off in March. Boeing slid $8.25, or 2.5 percent, to $319.63. Facebook FB.O was down 1.96 percent, while Netflix NFLX.O and Google-parent Alphabet GOOGL.O were down between 3 percent and 4 percent.

The Reserve Bank of Australia is due to announce its interest rates decision, with most expecting the central bank to hold the cash rate steady.

Shares of the electric carmaker Tesla slid 5.1 percent after the company's disclosure late Friday that its Autopilot system had been engaged in a Tesla vehicle involved in a fatal crash in California last month.

Bond prices finished little changed.

Traders were looking to a near $25 billion float of music app Spotify to lift the tech gloom, after a clobbering on Monday had pushed the S&P 500, Dow and Nasdaq below pivotal technical levels.

Pregnant Kate Middleton and Prince William Attend Easter Services With the Queen
Noticeably absent were Meghan and Harry, as well as the royal couple's children, 2-year-old Charlotte and 4-year-old George. Prince Philip, who retired from public duty past year , also did not attend a high-profile church service on Thursday.

U.S. Treasury prices are lower, with the benchmark 10-year yield up 3 bps at 2.76% and the two-year yield also 3 bps higher at 2.27%.

The dollar dipped in early trading but rebounded to 106.16 yen from Monday's 105.89 yen.

U.S. WTI crude oil +0.7% at $63.46/bbl.

European stocks are slightly lower, with U.K.'s FTSE and France's CAC both -0.1% and Germany's DAX -0.4%; in Asia, Japn's Nikkei finished -0.5% while China's Shanghai Composite closed -0.8%.

The Hang Seng Index edged down by 0.45 percent as property developers and tech stocks came under pressure.

As Advertisers Bail, Fox News' Laura Ingraham Announces "Vacation"
Several companies, including Hulu , Nutrish , Nestlé and TripAdvisor , have yanked their advertisements from Ingraham's show. It's time to love thy neighbor, not mudsling at children. "Have some healthy reflections this Holy Week", he tweeted .

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