Reactions to the US announce on Section 301 tariffs and China’s retaliation tariffs so far:
Hong Kong HSI closed down -2.19%. China SSE closed down -0.18%. However, note that the announcement of Chinese Ministry of Finance was done 30 mins after the stock market close. And there will be two days of holidays ahead. It’s obviously China doesn’t want to rock its own markets
In Europe, DAX seems to be most hurt as it’s trading down -1.3% right now. CAC is down -0.65% and FTSE is down -0.55% too.
DOW futures trading down -450 pts right now.
Gold gains over USD 10 to above 1340. But it’s still stuck in range between 1300 and 1366, established since last December.
In forex markets, AUD and CAD are notably down after the announcement. Yen surges broadly on risk aversion.
