China’s move to stabilise the yuan offered some reassurance that the trade conflict between the world’s two largest economies might be contained.
NEW YORK: US and European stocks clawed back some of their recent losses after China moved to stabilise its currency, providing a respite for investors stung by an escalation in trade tensions.
The S&P 500 Index rose as much as 1% while manufacturing shares led the Stoxx Europe 600 higher as China fixed the yuan at stronger than 7 per dollar, the level that spurred a global sell-off Monday.
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