*US wage growth has grown, the only positive factor for the US economy *Global stock markets suffered a major blow and this is likely to continue next week
Stocks
- The S&P 500 Index tanked after Trump decided to put more tariffs on China. The index lost over 1.21% of its value as of 15:37 London time.
- The Stoxx Europe 600 Index declined as investors lost their confidence because of trade war. The index dropped 2.25%.
- The UK FTSE fell off the cliff off the cliff. The index went down by 2.14%.
Currencies
- The Dollar Spot Index failed to react to the US NFP data and it dropped 0.18%.
- The Euro moved lower by 0.33%.and made a low of 1.1065.
- The British pound declined another 0.23% but moved above the key level of 1.21, it recorded a low of 1.2091.
- The Japanese yen moved higher by 1.43% to 106.62.
Bonds
- The Yield on 10-year Treasuries dropped by four basis point to 1.85%.
- Britain’s 10-year yield fell to 0.55%.
Commodities
- West Texas Intermediate crude moved higher due to the weakness in the dollar price and went up by 2.45% to $55.28 a barrel.
- Gold has become a safe haven trade and soared 1.95% to $1,447
