The dollar inched higher, stock markets struggled for traction and oil fell on Monday as a U.S.-China spat over the origin of the coronavirus put the brakes on optimism about an economic re-start as countries around the world ease restrictions.
FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus disease , walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. REUTERS/Stoyan Nenov/File Photo
U.S. President Donald Trump and Secretary of State Mike Pompeo added to worries with fresh efforts to pin blame for the pandemic on China, where the new coronavirus outbreak is believed to have originated. “The United States is not alone in publicly taking aim at China, but whether it’s Trump, Kudlow or Pompeo the narrative is more frequent, and traders are selling yuan,” he said.
China has reported its first quarterly GDP contraction since such records began a generation ago, and posted a slump in April export orders last week. That means a challenge for investors looking for income which seems to have, for now, stumped even billionaire Warren Buffett.
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