China’s cooling economy is giving way to more trade war concern for investors. Analysts are predicting the Chinese economy to end the year lower than it started, with reports suggesting a slowdown in Chinese manufacturing and technology sectors.
And the trade war isn’t just affecting the Asian markets. Investors are also choosing to focus on the effects of tariffs in the near future on corporate earnings as cracks begin showing from the third quarter reports.
However, analysts say North American markets may show some life today after last week’s selloff.
Crude prices continue to slip over Chinese manufacturing worries and ahead of the US-led sanctions on Iranian oil. The price of US oil is down to 67.42 a barrel.
The Loonie is gaining to 76.37 cents US.