In response, China’s yuan weakened beyond the key 7-per-dollar threshold in a move that threatens to lead to massive capital outflows.
(Aug 5): Asian shares slid to 6-1/2-month lows on Monday and the yuan plunged as a rapid escalation in the Sino-U.S. trade war drove nervous investors to safe-havens such as the yen, bonds and gold.
U.S. President Donald Trump abruptly decided on Thursday to slap 10% tariffs on $300 billion ($414.5 billion) in Chinese imports, stunning markets and ending a month-long trade truce. China vowed on Friday to fight back.
