Asian stocks fall by the most in a week as US-China standoff escalates

TOKYO: Asian stocks fell the most in a week on Wednesday as the United States and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.

The United States and China are engaged in a year-long row that has slowly expanded beyond trade policy, suggesting even more damage to an already fragile global economy. The U.S. State Department announced the move just a day after the U.S. Commerce Department cited the mistreatment of Uighur Muslims in China in its decision to add 20 Chinese public security bureaus and eight companies to a trade blacklist.

U.S. President Donald Trump has said tariffs on Chinese imports will rise on Oct. 15 if no progress is made in the negotiations. The two-year U.S. Treasury yield fell to 1.4174per cent. The spread between two-year and 10-year Treasuries, the most common definition of the yield curve, widened to 11.3 basis points.

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Source: The Straits Times - 🏆 8. / 63 Read more »