Stocks Tumble Then Recover on G7 Tension

Published / Last Updated on 08/06/2018

Investment MarketsStock markets globally fell on trade tensions ahead of the G7 summit in Quebec that starts to today and then some recovered.

Across the board on Friday

  • China was 1.28% down
  • Hong Kong was 1.76% down
  • Japan was 0.56% down
  • Germany was 0.35% down
  • France was 0.03% up
  • UK was 0.30% down
  • USA closed at 0.30% up

Who are the G7 Nations?

G7 is the world's seven most powerful industrialised countries - the US, Japan, Germany, the UK, France, Italy and Canada. The EU is also represented.  It used to include Russia as G8 until the dispute over Ukraine and Obama had Russia removed.

Why the tension?

This is the first head to head amongst major economies after President Trump increased trade tariffs, particularly hurting Germany, France and Italy.  Perhaps, there will be fireworks and public spats.