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Global Stocks Tumble Tuesday           06/19 06:01

   Global stock markets fell Tuesday after U.S. President Donald Trump 
escalated a dispute with Beijing over technology policy by threatening a tariff 
hike on an additional $200 billion of Chinese goods.

   BEIJING (AP) -- Global stock markets fell Tuesday after U.S. President 
Donald Trump escalated a dispute with Beijing over technology policy by 
threatening a tariff hike on an additional $200 billion of Chinese goods.

   KEEPING SCORE: In early trading, Germany's DAX plunged 1.8 percent to 
12,606.14 and France's CAC 40 fell 1.4 percent to 5,372.20. London's FTSE 100 
lost 0.8 percent to 7,565.81. On Monday, the DAX retreated 1.4 percent and the 
CAC 40 shed 0.9 percent while the FTSE 100 lost less than 0.1 percent. Wall 
Street looked poised for losses, with the future for the Dow Jones industrial 
average off 1.6 percent and that for the Standard & Poor's 500 index off 1.3 
percent.

   ASIA'S DAY: The Shanghai Composite Index fell 3.8 percent to 2,907.82 and 
Hong Kong's Hang Seng lost 2.8 percent to 29,468.15. Tokyo's Nikkei 225 
retreated 1.8 percent to 22,278.48 and Seoul's Kospi gave up 1.5 percent to 
2,340.11. India's Sensex shed 0.6 percent to 35,331.28 and Sydney's S&P-ASX 200 
declined 0.6 percent to 6,102.10. Benchmarks in Taiwan, New Zealand and 
Southeast Asia all declined.

   TRADE TENSIONS: Trump directed the U.S. Trade Representative to prepare new 
tariffs on $200 billion in Chinese imports, stepping up a dispute companies and 
investors worry could drag down global trade and economic growth. Trump accused 
Beijing of being unwilling to resolve the dispute over complaints it steals or 
pressures foreign companies to hand over technology. China's Commerce Ministry 
criticized the White House action as blackmail and said Beijing was ready to 
retaliate.

   ANALYST'S TAKE: "President Donald Trump's unwillingness to back down became 
apparent this morning, once again sinking markets into a risk-off atmosphere," 
Jingyi Pan of IG said in a report. Pan said market attention turned to China 
for "signs of further retaliation."

   WALL STREET: U.S. stocks finished mixed in trading that ended before Trump 
issued his tariff threat. Household goods companies took some of the worst 
losses as the S&P 500 fell for the third time in four days. The S&P 500 fell 
0.2 percent, while the Dow lost 0.4 percent. The Russell 2000 index of 
small-cap stocks rose 0.5 percent. Many investors feel smaller and more 
U.S.-focused companies are less vulnerable in the event of a major trade 
dispute.

   ENERGY: Benchmark U.S. crude lost 88 cents to $64.97 per barrel in 
electronic trading on the New York Mercantile Exchange. The contract rose 79 
cents on Monday to $65.85. Brent crude, used to price international oils, fell 
55 cents to $74.79 per barrel in London. The contract rose $1.90 the previous 
session to $75.34.

   CURRENCY: The dollar declined to 109.75 yen from Monday's 110.54 yen. The 
euro edged down to $1.1552 from $1.1623. 


(BE)

 
 
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