Wall street takes a hit with more US-China tensions

US stocks took a big hit today, in part because of rising tensions between the US and China. Phil Dobbie asks NAB’s Tapas Strickland whether a lack of progress could cause the Fed to rethink it’s expected December rate hike. The market has already downgraded the number of rate rises expected next year because of uncertain global market conditions. The Aussie and New Zealand dollars seem to have come off the worst out of the major currencies with this rise in uncertainty, whereas Sterling has risen, even though the Brexit path forward is as muddy as ever.

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