It has been a session of two halves. Early on European and Asian stocks fell, government bond yields slipped and the Japanese yen firmed after the U.S. government hit Chinese telecoms giant Huawei with severe sanctions, further straining Sino-U.S. trade ties, with Beijing warning that the Huawei restrictions won’t be seen as a goodwill gesture and that China will take “all necessary measures” to defend its companies. Amid fresh trade war concerns, the European Stoxx 600 index fell as much as 0.5% in early European trading with the German DAX down 0.4%, while U.S. equity futures were initially down 0.4%.
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