Markets in Europe and Asia fell on Friday after Beijing ordered the US government to shut down a diplomatic facility in Chengdu in retaliation to the US closure of the Chinese Consulate in Houston.
Chinese stocks led the losses in Asia, with the Shanghai Composite down more than three percent. Both the Shenzhen Composite and the Shenzhen Component Indices dropped over four percent. The selloff was also seen in Hong Kong, as the city’s Hang Seng Index tumbled over two percent.
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