Shanghai Composite closes at lowest level since November 2014 as trade tensions weigh

The year just gets worse for Chinese stocks

Today's close of 2,651.79 (down 1.1%) sees the Shanghai Composite post its lowest daily close since 27 November 2014. It's been a brutal 2018 to say the least for Chinese stocks and things don't look like they're about to get much better.

With the US set to announce an additional $200 billion worth of tariffs on Chinese goods - sooner or later - there is no doubt that China themselves will retaliate in due kind and push the trade dispute between the two into a more unfriendly territory. That doesn't bode well for the outlook of equities in general.

That said, European equities are also picking up on the sentiment here as they open the day lower.