GLOBAL MARKETS-Stocks deepen losses as U.S. puts yuan in trade war crosshairs [Reuters]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Reuters
GLOBAL MARKETS-Stocks deepen losses as U.S. puts yuan in trade war crosshairs - Reuters 3 Min Read (Adds analyst comment, updates prices) * Washington determines China a currency manipulator * U.S. stock futures down after Wall St’s big overnight losses * Yuan weakens further in offshore trade to new record low * U.S. Treasury 10-year yield drops to lowest since Oct 2016 * Asian stock markets: tmsnrt.rs/2zpUAr4 By Shinichi Saoshiro TOKYO, Aug 6 (Reuters) - Global stocks extended their already substantial losses and the offshore yuan hit an all-time low on Tuesday after Washington designated Beijing a currency manipulator in a rapid escalation of the U.S.-China trade war. U.S. Treasury Secretary Steven Mnuchin said on Monday the government had determined that China is manipulating its currency, and that Washington would engage the International Monetary Fund to eliminate unfair competition from Beijing. The Trump administration’s dramatic move against China hastened the risk aversion
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