Jp Morgan: Wall Street and Trade Dispute

jp morgan: Why central bank digital currencies will destroy bitcoin Nouriel Roubini Read more But as the broad losses in Wall Street pulled its key indices into the red for this year, economists at JP Morgan warned that the trade dispute between the world's two biggest economies threatens more trouble ahead, according to The Guardian. We forecast that the US imposes an additional 25% tariff on virtually all goods imports from China early next year. Plunging oil prices and intensifying concerns about technology stocks in the US spread contagion to Asia Pacific markets on Wednesday after renewed losses on Wall Street. This will drag materially on activity in China and could accelerate the decline in global business confidence now underway, the JP Morgan team wrote in a note to clients. The prospect of more rate hikes will set alarms bells ringing in emerging markets, which have already been squeezed of liquidity by the rise of the US dollar over the past few months. Although they forecast that the Chinese authorities will throw more policy stimulus to offset a hit from the tariffs and keep GDP growth at 6%, the team predicted that markets must prepare for the Federal Reserve to raise borrowing costs another four times next year. (news.financializer.com). As reported in the news.