8@eight: ASX set to open lower

By John Kicklighter
Updated January 25 2018 - 8:08am, first published 7:59am
The information of stocks that lost in prices are displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg
The information of stocks that lost in prices are displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg
MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
Stock information is displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg
Stock information is displayed on an electronic board inside the Australian Securities Exchange, operated by ASX Ltd., in Sydney, Australia, on Friday, July 24, 2015. The Australian dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg

Markets have swooned this past session; but the true to character, US equities would not feel the pressure for too long. Other regions would hold onto their losses a little more readily. Asian and European shares generally closed firmly in the red while carry trade in the FX market was also under pressure. What makes the contrast between US markets and their global counterparts particularly remarkable is that much of the shock value in the slide originates in the United States. Heading to Davos, a concerted effort to warn that protectionism was back on the menu serves to create another bout of ever-escalating shots to earn growth at others' expense. For now, the benefit may swing to the US; but these sort of reactionary efforts rarely stop at one volley.

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