Brendan Walsh & Olivia Rinaldi | Bloomberg | Aug 5th, 2019
Category: Financial News
U.S. shares clawed back some of their recent losses after China’s move to stabilize its currency fueled speculation cooler heads will prevent a full-blown trade war.
The S&P 500 Index rose 1.3%, though it remained well off the record high it reached just a bit more than a week ago. The dollar steadied and gold held near a six-year high after China fixed the yuan at stronger than 7 per dollar, the level that spurred a global sell-off Monday. Treasuries gave back some of yesterday’s surge, which had created the most extreme yield-curve inversion since the lead-up to the 2008 financial crisis.