‘Semi-Truce’ Trade Deal Roils Markets From Stocks to Soybeans
- Stocks pare gains as investors start to assess phase one deal
- Soybeans fall, yuan little changed versus dollar; oil slips
Photographer: Daniel Acker/Bloomberg
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The U.S. and China signed a partial trade deal that confirms a cease-fire in the spat that has roiled financial markets for three years.
While the broad terms of the 94-page agreement have been known since last year’s handshake deal, the text brought some clarity to markets that remained on edge. Credit card stocks, for example, were among the biggest gainers after the likes of Visa and Mastercard moved a step closer to gaining access to China’s $27 trillion payments market.