Rising prices in China-America, including Asia, impact on Asia-Europe, crude prices fell

Rising prices in China-America, including Asia, impact on Asia-Europe, crude prices fell

In China and the United States, the increasingly sharp-cut business war has shown the impact on markets around the world. The domestic stock market also closed on Monday and the Sensex and Nifty closed with a major fall. The crude oil prices in the international market also affected and it fell more than 2 percent.

Earlier, the announcement of US President Donald Trump's introduction of a new tariff on China's products was a tragedy in the world markets. The Indian stock market also influenced investor sentiment and started profiting. Sensex plunged more than 400 points by noon At the end of this, it was down 362.92 points at 38,600 level. Similarly, the Nifty also closed 114 points down at 11,598.25 points after slipping 129 points in the day. During the turnover, the BSE saw a decline in 1581 shares.

Impact on Asia-Europe

China's Shanghai Composite closed 6.58 percent down at 2,877.71, while Hong Kong's Hang Seng dropped 3.3 percent. Dow Jones in the US dropped 1.7 percent and S & P 500 by 1.6 percent. Besides, the markets of Taiwan, Singapore, Australia, and Indonesia also closed down. In European markets, France's CAC -40 was down 2.2 percent and Germany's DAX dropped 2.1 percent.

Money from the banks of China getting involved

China is raising funds from small and medium banks to avoid the risk of trade warfare and accelerate the economy. China's Central Bank People's Bank of China has reduced the ratio of compulsory reserve funds (RRR) to banks to 8 percent on Monday. This decision, which will come into effect from May 15, will give additional cash of Rs 2.88 lakh crore to 1000 lenders. China has taken such a step this year for the second time in order to deal with the dangers of a deeper trade war with the US, with the signs of a global slowdown in exports and declining growth rates.

Crude below $ 70 a barrel

The impact of rising tensions globally also took place on the prices of crude and it once again went below $ 70 a barrel. On Monday, the price of Brent crude fell more than 2 percent and was $ 69.78 a barrel, which is its lowest level after April 2. Crude prices on that day were $ 68.79 a barrel. Market analysts believe that crude prices can remain soft in the next few days if the gap between China and the US has increased. However, due to restrictions on Iran and Venezuela, it may soon see recovery.

Rupee also weakens 24 paise

The threat of trump on the trade war also influenced the rupee against the dollar and 24 paise weakness in the initial trading on Monday. The rupee opened at $ 69.38 and quickly dropped to $ 69.46 per dollar as demand from importers raised the dollar. Earlier on Friday, the rupee had closed at a low of 69.22 with the strength of 15 paise.