Sands China lost 3.19 percent, MGM China fell 8.88 percent, and Wynn Macau lost 6.92 percent. The three other licensees in Macau \u2013 Melco Resorts, SJM Holdings, and Galaxy Entertainment \u2013 respectively lost 4.5 percent, 4.6 percent, and 6.3 percent.<\/p>\n
Julian Evans-Pritchard, a senior economist with Capital Economics who specializes in China, says President Xi Jinping’s willingness to stop defending the seven yuan against $1 currency difference “suggests that they have all but abandoned hopes for a trade deal with the US.”<\/p>\n
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“In a statement likely to anger Trump, the People’s Bank of China has explicitly linked today’s devaluation with the renewed tariff threat made by the US last week,” she concluded.<\/p>\n<\/div>\n
The two largest economies in the world engaging in the trade conflict has led to losses around the globe. Japan’s Nikkei index fell 1.7 percent, and South Korea’s Kospi lost 2.6 percent. In Europe, France’s CAC 40 fell 2.2 percent, the German DAX lost 1.8 percent, and London’s FTSE 100 declined 2.5 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"
The gaming industry wasn’t immune from stock market crashes felt around the world Monday, as trade war tensions escalated between the United States and China. President Donald Trump called China dropping the value of its yuan to its lowest level in more than a decade “currency manipulation.” The move by the People’s Republic came after […]<\/p>\n","protected":false},"author":25,"featured_media":111188,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61],"tags":[],"acf":[],"yoast_head":"\n
Gaming Industry Stocks Crash on Worsening US-China Trade War Conflict<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n