A trader works on the floor of the New York Stock Exchange on Wednesday. The first few trading sessions of this month had suggested investors may be in for a brutal August, but, tellingly, sentiment has already recovered somewhat after Monday’s sharp sell-off. Photo: AP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Trade war escalation leaves markets shaken, but a meltdown is not on the cards

  • Trump’s latest tariffs and the yuan’s slide this week are forcing investors to take the threat of a prolonged stand-off more seriously
  • But a dovish Fed and growing confidence in China’s ability to manage its currency are among the reasons we are still some way from a fully fledged crisis

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A trader works on the floor of the New York Stock Exchange on Wednesday. The first few trading sessions of this month had suggested investors may be in for a brutal August, but, tellingly, sentiment has already recovered somewhat after Monday’s sharp sell-off. Photo: AP
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