UK and US markets suffer worst day of the year on currency war concerns
Renminbi devalued
The renminbi fell to its weakest level since the 2008 Global Financial Crisis
UK and US stocks suffered their worst day of the year so far yesterday (5 August) after China devalued its currency, prompting concerns the trade war is spilling over into the currency markets.
The renminbi fell to its weakest level since the 2008 Global Financial Crisis on Monday as the prospect of a trade deal between China and the US faded, which had a knock-on effect on global markets and...
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