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STOCKS PLUNGE OVER ESCALATING TRADE WAR
NEW YORK CITY, USA | 6 AUGUST 2019 - ONWARDS

Stocks dropped 3% on Wall Street on Monday, their worst loss of the year, after China countered President Donald Trump’s latest tariff threat by letting its currency weaken to the lowest level in more than 10 years.

Investors around the world scrambled to sell on worries about how much the escalating trade war between the two giant economic powers will damage the global economy.

Asian stocks followed Wall Street lower on Tuesday: China’s main index lost 2.5% and Tokyo fell 2%. Markets in Hong Kong, Sydney and Seoul also retreated.


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