(Reuters) – U.S. stock indexes moved in a flat-to-low range on Friday as simmering Sino-U.S. tensions weighed on markets struggling to gauge the pace of economic recovery from the coronavirus.
FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri/File Photo
President Donald Trump’s rhetoric against China’s plan for a national security law in Hong Kong on Thursday raised concerns over Washington and Beijing reneging on their phase-1 trade deal.
Fears of a renewed trade war have cut short Wall Street’s April rally and indexes are now moving in a tight range, with fresh tariff actions likely to hamper a recovery from the economic shock of the coronavirus.
“Sentiment is really vulnerable to expensive valuation at the moment,” said Andrea Cicione, head of strategy at TS Lombard in London.
“After the shock of the COVID-19 lockdown, we have to go through…
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