Business & Finance

Trade War Affects Energy, Microchips and Banks

The US-China trade war seems to be taking a severely ugly turn. A closer look at the stock market reveals that not even a single genre has been free from the devastating effects of the trade war. However, the effect is felt more severely by the banks, the Energy sector, and microchip companies.

The severe effects of the trade war can be witnessed in the case of the companies that have larger business interests with China. This includes chipmakers and other technology companies. The stocks of these companies have fallen considerably over the past few months. The effects are seen to be more aggressive whenever President Donald Trump sends a tweet or makes any sort of comment about the trade war or the relationship with China.

The same tremors are being felt in case of energy companies as well. In fact, the ongoing trade war is expected to affect the global economy at large, and this has resulted in sinking the price of the oil.

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The next in line to suffer a severe loss are the banks. The reasons for the poor performance of the financial sector has been due to the lesser profitable lending. The trade war has prompted a lot of economists and analysts to make predictions about an impending recession hitting the US if no corrective actions are taken. These concerns have now severely affected the bonds market.

Stephen Volkmann, an equity analyst at Jefferies, said, “Every time there’s a tweet, I get a call and asked, ‘How does this affect CAT?”.

Is Trump listening to the impending worries and think positively about relieving the tensions between China and the US? We don’t see any positive signs. At least for the foreseeable future.

About the author

Donna Powell

Donna is a veteran journalist who has immense experience in online journalism and creating stories. On News Bulletins, she manages to write news articles from the Business and Entertainment industry. She does a lot of social services, and help the needy. She loves doing that. She has a masters degree in English literature, and that gives her an edge while writing. Along with writing news articles, she does check every news content before putting them live. She checks each news content, and edit them to make them even more correct, and readable.

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