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Geopolitical events (the diplomatictensions between Canada and Saudi Arabia and the impositions of sanctions to Russia from the U.S.) had a muted effect on advancedeconomies' stock markets. In Europe, the mainstock indices experienced moderate losses, except in Portugal and in the U.K., while the S&P 500 remained unchanged. Instead, trade tensions between China and the U.S. weighted on Chinese equity indices.

https://www.caixabankresearch.com/en/publications/financial-markets-daily-report/09-august-2018