DAX: Despite yesterday’s clamber back above the neckline of the huge head and shoulders top at 12000, momentum remains negative. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle

 

China’s Huawei blacklisted By the Trump administration

Reuters reports that the giant telecoms company, under scrutiny for its government links and international 5G proposals, has been hit by severe US sanctions – just as Sino-Chinese trade talks were due to resume. The move means that the Chinese company is banned from acquiring components firms and technology know-how from US firms unless it has US government approval.

In a report compiled by Bloomberg, it would seem that global trade has slumped this year, particularly in the manufacturing sector. Backed up by IMF data, exports have dropped to their lowest levels since 2009.

Financial Markets and Political Commentary
 

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