26 November 2018

Bassanese Bites: G-20 Showdown – Week beginning: 26 November 2018

Wall Street officially entered correction territory last week – the second for the year – with the S&P 500 Index dropping a chunky 3.8%. While a further slump in oil prices was a contributing factor – hurting the energy sector – lingering trade fears appeared the main negative, following the failure of last weekend’s APEC meeting to even issue a communique.  It’s not often that Wall Street reacts to an APEC meeting, but such is the market’s sensitivity that the poor meeting result was taken as a bad omen for the likelihood of a deal between the US and China at this week’s G-20 meeting.

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