Possible trip to Taiwan Pelosis puts pressure on Wall Street – Uber makes money, shares go up

Frankfort, New York The dispute over a visit by US top politician Nancy Pelosi to Taiwan is getting on the nerves of Wall Street investors. “It’s very difficult to assess the risks,” said portfolio manager Mohammed Kazmi of private bank UBP. “Although the effects of an escalation in tensions between China and the USA would be great, the markets currently see this as unlikely.” The Dow Jones lost 1.2 percent to 32,396 points. The tech-heavy Nasdaq fell 0.2 percent to 12,349 points and the broad-based S&P 500 fell 0.7 percent to 4091 points.

At the same time, investors sought protection in “safe havens” such as the world’s leading currency. The dollar index, which tracks the rate against major currencies, rose 0.9 percent to 106.32 points. Treasury bonds were also in demand, with yields on 10-year US bonds temporarily falling to four-month lows of 2.516 percent.