Spreadex Market Update

Dow Jones dives under 25000 as trade war concerns weigh on markets



The Dow Jones ensured Europe’s attempts at holding back a wave of red couldn’t last on Friday.

Diving back under 25000, the Dow dropped more than 200 points, still infected by the same concerns that spoiled Thursday’s trading. Against a backdrop of drastically slashed growth forecasts, the index was forced to ponder the likelihood of the US-China trade war resuming once the ceasefire ends in early March following Trump’s claim he wouldn’t be meeting President Xi this month.

The talks aren’t completely dead – Treasury Secretary Steve Mnuchin and Trade Representative Robert Lighthizer are on their way to Beijing next week – but the hopes of an actual deal have been severely dented.

With the Dow Jones despondent, the European indices stood no chance. The DAX, which had a rough enough time of it yesterday, lost another 1.2%, meaning nearly 500 points stand between where it will end the week and Tuesday’s 2-month highs. The CAC, meanwhile, was down 0.8% and lurking near 4950.

As it has done for most of the week, the FTSE outperformed its peers despite still being in the red. The UK index dipped 0.2%, enough to keep it the wrong side of 7100 but a relatively manageable 100 points off the week’s near 4-month peak. The pound’s poor performance has helped limit the FTSE’s losses, even if sterling barely moved on Friday.

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