BEFORE THE BELL: Trade war effects on China pressuring global markets; Bitcoin battered by bomb threat scam
A trade war-created economic downturn in China is putting pressure on global markets. A report and confirmation from Beijing officials suggested the eastern country’s economy was showing the effects of US trade tariffs. Euro zone businesses are also seeing some trade-related downturn. Despite optimistic comments from both the US and China on the possibility of easing the trade war, this recent data is expected to spill over negativity into North American markets.
The price of crude is showing its volatility again as it falls this morning, US oil is down to 52.26 a barrel.
The Loonie is falling to 74.70 cents US.
The battered Bitcoin is falling further after the cryptocurrency became part of a massive bomb threat scam across the globe. Fake bomb threats were emailed to various businesses and organizations in many countries with the scammers demanding Bitcoin payment to avoid an explosion.