The shockwaves from growing tensions between the United States and China have thrown European and Asian markets into a state of flux, while sending gold to a record high Monday.
In Europe, the FTSE index in London is down 0.1% and the CAC-40 index in Paris is off 0.2%, while the DAX index in Frankfurt is trading 0.3% higher.
Men walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Monday, July 27, 2020.
The situation was much the same earlier in the day in Asia. The Nikkei index in Tokyo finished out the day down 0.1%. The Hang Seng index in Hong Kong closed 0.4% lower, while Shanghai’s Composite index was 0.2% higher.
Sydney’s S&P/ASX index closed up 0.3%. The KOSPI in Seoul is up 0.8%, and Taipei’s TSEC soared 2.3%. The Sensex in Mumbai is 0.5% lower in late afternoon trading.
Gold is selling at a record $1,937.10 per ounce as investors looked to park their money in safe haven assets after the U.S. consulate in Chengdu, China was forced to close down in retaliation by Beijing for the closure of its consulate last week in Houston, Texas.
In oil trading, U.S. crude was selling at $41.15 per barrel, down 0.3%, and Brent crude was selling at $43.18 per barrel, also down 0.3%.
Despite the uncertainty, all three major U.S indexes are trending positively in futures trading Monday ahead of Wall Street’s opening bell.