MARKET OPEN: Wall St rally runs out of steam as US-China tensions mount

Tue, 14 Jul 2020

New Zealand’s stock market may be in for a soft day after a rally on Wall Street ran out of steam as the US and China traded barbs, reminding investors of the volatile relationship between the world’s two biggest economies. US Secretary of State Mike Pompeo denounced Beijing’s claims to the South China Sea, calling them “unlawful,” while China sanctioned US lawmakers who sponsored legislation over human rights in China. The US-China tensions have taken a backseat in recent months as investors focused on the covid-19 pandemic still sweepin...

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