McKinsey & Co. partners have been questioning the consulting giant’s presence in China, worried that doing business there may not be worth the risks given the Asian superpower’s increasingly volatile relationship with the US.

Shanghai residents expressed concern over worsening U.S.-China relations after an additional 10% tariff on Chinese goods imposed by President Trump came into effect. China responded minutes later with export restrictions on metals and tariffs on U.

The Indian rupee ended higher in a choppy trading session on Tuesday, mirroring gains in regional currencies, but concerns over an escalating U.S.-China trade war kept investors on edge.

Investors are closely watching the unfolding trade tensions, especially following China's retaliatory tariff moves after President Donald Trump's 10% tariff on Chinese goods. Proposed tariffs on Canada and Mexico are on pause due to temporary agreements,

GBP/USD is falling further toward 1.2450 in the European session on Thursday. The pair bears the brunt of the exepctations surrounding the Fed-BoE policy divergence. The BoE is on track to lower key interest rate by 25 bps to 4.50% following its February policy meeting.

Oil prices fell more than 2% on Wednesday as a large build in U.S. crude and gasoline stockpiles signalled demand weakness while concern about a new China-U.S. trade war fuelled fears of softer economic growth.

Oil prices on the New York commodity exchange are dropping after China imposed tariffs on American goods, including oil and liquefied natural gas. Brokers report that investors are also worried about US sanctions on Iran.