London pre-open: Stocks to drop as US-China relations escalate further

London stocks were set for losses at the open on Tuesday as the US and China edged closer to a trade war. The FTSE 100 was called to open 25 points lower at 7,606 after US President Trump said he could add another 10% tariff on $200bn worth of Chinese goods if China goes ahead with its retaliation tariffs. CMC Markets analyst Michael Hewson said: "This upping of the ante saw markets in Asia slide and unlike yesterday haven bond markets rallied as US treasury yields slid back, the Japanese yen ...

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