President Donald Trump previously imposed sanctions against Hong Kong
European stock markets reacted to the decline of trade and economic relations between the US and China by lowering stock prices during the opening of trade on Thursday, July 16 Reuters.
The decline in the value of securities occurred after the fall in stock prices in Asian markets after US authorities imposed sanctions against Hong Kong.
In addition, US officials said they were investigating a potential threat to the country’s national security that popular Chinese Tickcock and WeChat apps could pose.
So, the European STOXX 600 index and the London FTSE 100 fell 0.9% at 8:00 GMT.
The global MSCI stock index, which tracks stocks in 49 countries, fell 0.5%, while the main European MSCI index fell 0.8%.
Oil prices fell after OPEC and allied countries, such as Russia agreed to reduce supplies from August. The decline was mitigated by the expectation of an increase in US demand following a significant decrease in oil reserves in the country.
Brent crude fell 18 cents to $ 43.61 a barrel and West Texas Intermediate fell 29 cents to $ 40.91 a barrel at 8 cents GMT.
At the same time, on the foreign exchange markets, the dollar index rose 0.1% to 96.104 points, reaching the monthly minimum on Wednesday.
Recall, the other day, Donald Trump signed a bill on sanctions against China, as well as an executive decree on depriving Hong Kong of US economic and trade preferences.
According to the US president, such measures were introduced to hold China accountable for “discriminatory actions” against the people of Hong Kong.
It is an American bill that provides for sanctions against Chinese individuals and legal entities in relation to the situation in the PRC’s Special Administrative Region, where a new law on national security came into force on 1 July.
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