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European stock markets fell to a one-month low on Monday, and German bond yields fell back to negative levels, as US President Trump threatened to raise tariffs on Chinese exports to the US, triggering a sharp drop in global risk assets.

Trump has significantly increased its pressure on China on Sunday, announcing that it will raise tariffs on China’s $200 billion US exports to the US this week, and will soon impose tariffs on hundreds of billions of dollars in Chinese goods. The move marks a serious escalation of trade tensions between the world's two largest economies and also shows a change in Trump's tone. He is still saying on Friday that the negotiations between the two sides have made good progress.

Global investors were caught off guard, and they had expected the two sides to soon reach a trade agreement.

“The market is caught off guard because everyone is expecting negotiations to move in the right direction and almost close to completion,” said Daniel Lenz, an interest rate strategist at Commerzbank. “This is completely unexpected. The market reaction is that today’s risk aversion is aggravating. ""

Before the emergence of the latest bridge in the trade war, the market volatility of various asset classes has been low in recent weeks, and a series of tepid but stable economic data has become more and more, with few negative surprises, giving investors a calm ride. a feeling of.

China's stock market once fell more than 6%, and the US E-mini S&P 500 index futures fell 1.6%. The oil price went down and the yuan fell to a 10-month low.

The MSCI Alum Global Stock Market Index, which tracks 47 countries' stock markets, fell 0.5%.

US President Trump has significantly increased pressure on China on Sunday. He announced that this week will raise tariffs on the $200 billion Chinese exports to the United States, and will soon impose tariffs on hundreds of billions of dollars in Chinese goods. The move marks a serious escalation of trade tensions between the world's two largest economies.

His tweets confuse a pool of spring water in a calm market. The original signs show that China and the US economy have improved, and Trump and senior US officials have also commented that trade negotiations are progressing well.


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