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Global stocks on defensive as U.S.-China tensions spook investors
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Global stocks on defensive as U.S.-China tensions spook investors
U.S. stock futures slipped and Asian shares came under pressure in early Monday trade as tit-for-tat consulate closures in China and the United States fanned worries about worsening diplomatic ties between the world's two largest economies. Global shares lost steam late last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the U.S. consulate in Chengdu. U.S. Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use 'more creative and assertive ways' to press the Chinese Communist Party to change its ways.
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