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Dollar firm but stocks, oil under pressure as U.S.-China tensions rise

Byindianadmin

May 4, 2020 #China, #tensions
Dollar firm but stocks, oil under pressure as U.S.-China tensions rise

SINGAPORE (Reuters) – The dollar rose, oil fell and stock markets were poised to slip on Monday as rising U.S.-China tensions over the coronavirus – and growing unease at the gulf between asset prices and grim economic reality – turned investors cautious.

FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus disease (COVID-19), walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. REUTERS/Stoyan Nenov/File Photo

In thin trade, with China and Japan on holiday, U.S. stock futures fell 1.6%, U.S. crude tumbled over $1 a barrel, or 6%, and futures for Australia’s benchmark ASX 200 index pointed to a negative open.

The safe-haven U.S. dollar rallied to one-week highs against the risk sensitive Australian and New Zealand dollars.

The moves extended a dour start to the month that began on Friday with bleak U.S. data and the threat of fresh trade-war hostilities between the world’s two biggest economies.

U.S. Secretary of State Mike Pompeo added to the jitters with remarks on Sunday, when he said th

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