Asian stocks fell as investors have continued concerns regarding the latest unfortunate problems Indonesia and India and strength in commodity prices. The euro on the other climbed back again as he Italian government trimmed its budget-deficit plans.
Italian stocks still remain pretty volatile as the country’s budget has been very confrontations with the EU raised the risk of a debt crisis. The euro rose after the Corriere della Sera reported Italy’s draft budget plan will pledge to cut the deficit to 2 percent in 2021, reversing the government’s initial proposal. The yield on 10-year Italian government bonds touched the highest level in more than four years Tuesday. Meanwhile in the U.S., retailers slipped after Amazon.com raised the minimum wage for all its employees, with the S&P 500 Index edging lower.Investors remain reluctant while especially while Italy sorts itself out while Asia remains turbulent . There was just recently a U.S. and a Chinese warship in the South China Sea which has added to the turmoil between two countries which has being in an ongoing trade war.
In the UK, the pound traded on a two week low largely due Theresa May’s Brexit plan, with some including Boris Johnson looking for her to be removed.