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JPMorgan's Sullivan Says Protectionism Remains Source of Volatility
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Just when investors thought stock markets across the globe had calmed before the weekend, Donald Trump urged his administration to impose tariffs on an additional $100 billion in Chinese imports.
While U.S. stock-index futures fell after Trump’s move, investor reaction in equity markets across Asia wasn’t as big. Japan’s Topix index and South Korea’s Kospi gauge both slipped 0.3 percent, while Hong Kong’s Hang Seng Index rose 1.1 percent after a holiday Thursday. China’s stock and currency markets are shut until Monday due to its annual tomb-sweeping holidays. China later said it would counter U.S. protectionism “to the end, and at any cost.”