Yuan drop, trade war drag PSEi to new low

Aug 06, 2019 12:20 am

THE stock market fell to its lowest level in more than two months on Monday, with analysts blaming it on the depreciation of the Chinese yuan and the trade war between the United States and China.

Traders work at the New York Stock Exchange (NYSE) on August 5, 2019 at Wall Street in New York City. Selling on Wall Street accelerated early Monday as a steep drop in the Chinese yuan escalated the US-China trade war following President Trump's announcement of new tariffs last week. / AFP / Johannes EISELE

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