# Trade war fears send shudder through stock markets

> U.S. and European stock markets fell sharply on Monday after President Trump accused Beijing of currency manipulation, with the Dow and S&P 500 down about 3%. The yuan passed seven per dollar for the first time since 2008, and safe-haven assets like gold and the yen rose. Brent crude fell 2.5% to $60.36 a barrel and WTI fell 1.7% to $54.69.

- Date: 2019-08-05 · published 2019-08-05T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/8382-trade-war-fears-send-shudder-through-stock-markets
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Escalating trade measures raise concerns about global growth, which weighs on energy demand and crude prices. Weaker crude also lowers the cost of biofuel feedstocks and can pressure related vegetable oil and grain prices.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2019-08-07 | 5 | -14.1% | -3.3 | On Aug 5 the currency manipulation accusation and yuan breaking 7 caused a risk-off selloff, with Brent falling further. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2019-08-23 | [New Trade War Escalation Sends Shockwaves Through Oil Markets \| OilPrice.com](https://feedsoft.ai/events/57750-new-trade-war-escalation-sends-shockwaves-through-oil-markets-oilprice-com.md) | +2.4% | +5.1% |
| WTI | 2019-05-23 | [Oil gets clobbered as trade war fears mount \| CNN Business](https://feedsoft.ai/events/6606-oil-gets-clobbered-as-trade-war-fears-mount-cnn-business.md) | -4.2% | -12.5% |
| WTI | 2019-08-25 | [Oil Markets Hit Hard By Trade War Escalation \| OilPrice.com](https://feedsoft.ai/events/57749-oil-markets-hit-hard-by-trade-war-escalation-oilprice-com.md) | +1.8% | +7.1% |
| WTI | 2019-05-24 | [Trade War Slams Crude Oil, Stocks and Bond Yields](https://feedsoft.ai/events/6609-trade-war-slams-crude-oil-stocks-and-bond-yields.md) | -2.1% | -1.6% |
| WTI | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | +0.9% | +9.0% |
| BRENT | 2019-05-23 | [Oil gets clobbered as trade war fears mount \| CNN Business](https://feedsoft.ai/events/6606-oil-gets-clobbered-as-trade-war-fears-mount-cnn-business.md) | -4.6% | -9.1% |
| BRENT | 2019-05-24 | [Trade War Slams Crude Oil, Stocks and Bond Yields](https://feedsoft.ai/events/6609-trade-war-slams-crude-oil-stocks-and-bond-yields.md) | -3.6% | -3.6% |
| BRENT | 2019-06-02 | [Crude posts worst May in seven years as trade-war anxiety builds](https://feedsoft.ai/events/11593-crude-posts-worst-may-in-seven-years-as-trade-war-anxiety-builds.md) | -2.9% | +2.1% |

## Sources

- bbc.com: https://www.bbc.com/news/business-49234068

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.