Market Update – October 2019
Global developed markets sold off some 2.2%
Global developed markets sold off some 2.2% at the beginning of the month as October kicked off with an escalation in geopolitical tension. This came after US government considered delisting Chinese companies from major US stock exchanges in its efforts to reduce US investments into China as the trade war endures. Towards the middle of the month both nations attempted to deescalate the trade war in hopes of signing a partial trade deal in the near future.
To this end, the US postponed the 15th October 2019 deadline that it imposed on China which would have seen an additional 5% tariff increase from 25% to 30% on $250 billion of Chinese goods. In return China would buy US agricultural produce.
