When asked if there had been any change in policy after Monday’s comments that the US would engage militarily to defend Taiwana self-governing island claimed by China, the President Joe Biden Said no”.
China’s Foreign Ministry warned the US not to underestimate its resolve on Taiwan following Biden’s comments the day before.
market reaction
The renewed geopolitical tensions between the US and China over Taiwan does not bode well for marketsand adds to the lukewarm feeling of risk.
S&P 500 futures are down 1.21% on the day, while the US dollar index is up 0.16% so far.
The price of gold is trading almost unchanged on the day, at $1,852, at the time of writing.
Source: Fx Street
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