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Wall Street opens with further falls before the give and take between China and the US


Wall street opens with further falls after its correction this Thursday. The main US indices have suffered, with declines of more than 0.5% in both the Dow Jones and the S&P 500, after another bad unemployment figure and, especially, the upsurge of the trade war after the Chinese response to the ordeal. Trump.

The Chinese Foreign Ministry announced on Friday that it has ordered the revocation of the license of the US consulate in the city of Chengdu, southwest China.

The ministry also ordered the consulate to cease operations, according to an online statement. "The current situation between China and the United States is something that the Chinese side does not want," said the Foreign Ministry in an online statement collected by CNBC.

The trade war and its resurgence are not the only headache for investors. The tech rally is taking on more and more bubbles, in the words of analysts like Truist: "Concerns are growing and there is this risk of concentration with the big five tech companies 'weighing' 22% of the total S&P 500" .

In political matters, Trump has yielded to the pandemic and canceled the great event in which he had planned to present his candidacy to revalidate his stay in the White House.

On the other side of the Atlantic, the Ibex and the rest of Europe fall sharply before the aforementioned escalation of trade tensions. Finally, in Asia the falls have been led by China, whose stock markets have dropped by 5% on average as tension grows between the two largest economies in the world.


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