Top 5 Things to Know in the Market on Tuesday –

Top 5 Things to Know in the Market on Tuesday –

© Reuters.
© Reuters. – Here are the top five things you need to know in financial markets on Tuesday, August 13:

1. Global stocks jolted by geopolitical tensions

Global equities slid following steep losses in the previous session as heightened geopolitical tensions exacerbated worries over the global growth outlook.

Hong Kong’s led with a 2% dive.

shared in risk-off sentiment with concerns over Italian politics only adding to worries. Italian right-wing League leader Matteo Salvini’s drive for early elections hit a road bump as parliamentary leaders failed to decide when the Senate should debate his no-confidence motion.

U.S. futures pointed to a lower open on Wall Street amid lingering concerns that the U.S. and China will not reach a quick resolution to their year-long trade war.

Read more: – Jeffrey Halley

2. Hong Kong, Argentina under geopolitical spotlight

Market focus remained centered on geopolitical tensions in Hong Kong and Argentina and growing signs that trade tensions are hitting global growth.

Hong Kong leader Carrie Lam said Tuesday that further violence involving protests could push the territory “down a path of no return”.

The international airport at the Asian financial hub Tuesday after the cancellation of all flights on Monday, with protesters returning to stand their ground, according to media reports.

Nerves looked to be anything but settled in Argentina where a stunning defeat of President Mauricio Macri in primary elections over the weekend led traders to an of the country’s stocks, currency and bonds, causing some to speculate that Argentina could once again be on the road to default.

3. U.S. bonds on watch for stronger recession signal

U.S. bond markets have rallied amid risk-off sentiment, driving the on the 10-year Treasury note to 2016 lows and the towards record lows.

The spread between the yield on and the 10-year note is already inverted, seen by some as a sign of upcoming recession. Analysts warned however that bond yields may be set to send an even stronger signal of an economic downturn if the 10-year yield breaks below the . That spread hit its lowest level since 2007, hovering at around six basis points.

4. Gold marks new 6-year high, yen hovers near 7-month peak

Traditional safe-haven assets such as gold and the Japanese yen have received a boost in the face of investors’ flight from risk.

continued to power higher, hitting its highest level since Sept. 2013.

The was hovering near , as traders looked ahead to at 8:30 AM ET (12:30 GMT).

5. Oil dips ahead of API inventories

eased ahead of inventory data later in the day. Demand side worries have dominated crude trade as fears of a weakening global economy dim the outlook for oil. In an attempt to support prices, OPEC’s de facto leader Saudi Arabia has been studying further efforts to cut supply.

The American Petroleum Institute’s weekly data on will provide further insight into domestic oil supplies.

— Reuters contributed to this report.

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