Dirhams & Dollars

After a brief respite on Monday, Wall Street shares dived on Tuesday once again on fears of slowing growth and a trade war truce that was hanging in the balance. It’s been a rollercoaster week for global markets, with key events punctuating the steady climb that most investors have enjoyed for several years now. Chief among those is the fragile pact that President Trump and President Xi agreed in Argentina last weekend on the sidelines of the G20 conference. That truce looked to be under threat as neither the US nor China would confirm the details of the deal, although as of Wednesday afternoon it looks to be gathering some momentum. Unfortunately, that wasn’t the story of Tuesday, when the three major US indexes dropped 3 per cent in one of their worst days in weeks. This was fueled in part also by growing concerns over global economic outlook, with analysts pointing to a flattening yield curve as evidence that confidence in the US economy is beginning to wane. In today’s episode, we discuss all this