Source: International Business Times
Chinese retail sales came in below expectations but industrial production beat forecasts AFP Asian stocks fell with the dollar Monday after Moody's removed the United States' last gold standard sovereign bond rating, citing the growing debt pile that it warned could balloon further. The move dealt a blow to markets, which had enjoyed a healthy run-up last week after Washington and China hammered out a deal to temporarily slash tit-for-tat tariffs, dialling down the tensions in a painful trade war between the superpowers. After the rout sparked by US President Donald Trump's Liberation Day tariffs bazooka, investors have in recent weeks raced back to buy up beaten-down stocks as the White House tempered its hardball tariff approach and then announced the agreement with China.
