NY Open: Wall Street bitten by FANGs
The biggest and the brightest of Nasdaq's tech stars have lost some shine today and taken the rest of Wall Street lower. Meanwhile, the Brexit-beleaguered sterling is hurting too.
Head of Macro Analysis, Saxo Bank Group
Summary: Since last May, when the trade war with the US intensified, China has shifted towards looser monetary policy and stimulus efforts. So far the biggest impact of easing is that it has contributed to boosting the credit impulse – a key driver of economic growth – back into positive territory.