Global Market News: -
• U.S. President Donald Trump, said he will hold a news conference on China later on Friday.
• Sino-U.S. relations sent stocks lower and put investors on edge.
• “It is seen as a major threat to the rally we’ve had and the recovery,” said Shane Oliver.
• The possible U.S. response could range from a tearing up of the Phase 1 trade deal and fresh tariffs on China, to milder travel or financial sanctions on Chinese officials.
• Hong Kong’s government warned on Friday that withdrawing its special U.S. status, which has underpinned it as a finance hub, could be a “double-edged sword” and urged the United States to stop interfering in internal affairs.