Stock Market News

Asian shares on defensive, pound at 28-month low on hard Brexit fears.

Asian shares weakened in early trade on Wednesday, rattled by fresh trade war concerns following threats from #President Donald Trump to Beijing, while increasing worries about a no-deal Brexit kept the pound under pressure.

Later in the day, the U.S. FederalReserve is widely expected to cut interest rates for the first time since the financial crisis more than a decade ago. The expected easing has supported risk asset prices worldwide.
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.04% while Japan’s Nikkei slid 0.84%.

Major WallStreet stock averages ended slightly lower on Tuesday, with the S&P 500 losing 0.26%, after Trump warned China against waiting out his current presidential term before finalising a trade deal.

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