![(13 MAY 2019)DAILY MARKET BRIEF 1:Markets slide as US-China trade tensions escalate (13 MAY 2019)DAILY MARKET BRIEF 1:Markets slide as US-China trade tensions escalate](https://c.mql5.com/6/831/splash-726561.jpg)
(13 MAY 2019)DAILY MARKET BRIEF 1:Markets slide as US-China trade tensions escalate
![Jiming Huang Jiming Huang](https://c.mql5.com/avatar/2015/11/563C54E3-36DF.jpg)
Global equities fell across on the board on Monday as investors await the details of US tariffs on $300 billion worth of Chinese imports. European shares followed Asia’s lead with the German DAX sliding 0.80% to a fresh monthly low. Wall Street also tumbled with front-month futures S&P 500 futures falling more than 1.30% to 2,845 points. In Switzerland, the SMI gave up 0.60% and hit 9,380 points, the lowest level since April 15th.
In the FX market, the Japanese yen, the Swissy and greenback benefited from the deterioration in risk sentiment. The Swiss franc continued to appreciate against the buck with USD/CHF sliding towards party. Over the last three weeks, the Swiss franc appreciated more than 1.40% against the dollar. Similarly, USD/JPY is testing again the 109.50 support; it is the third time since the beginning of February. Surprisingly, the yellow metal has been struggling to add gains despite the rise in uncertainty. The price of an ounce of gold eased to 1,283.60 on Monday morning, down 0.20% on the session.
This week will be a landmine for investors as they remain at the mercy of Donald Trump’s random tweets. Now, it looks like China and the US are both trying to reassure the international community that they are still working on a deal. However, it is clear now that they can’t trust each other and it would be difficult to reach an agreement when you do no trust your representative. It is difficult to say whether a deal could be reached or the China-US relation is doomed. Meanwhile, market conditions will remain choppy and erratic.