Reuters

Asian Market Rout Goes Global On Tech, Tax And Government Shutdown Tremors

A selloff which started in Asia, driven by renewed liquidation of Chinese and Hong Kong tech stocks and accelerated by weaker metal prices which pushed the Shanghai Composite below a key support and to 4 month lows, spread to Europe and the rest of the world as investors continued to lock in year-end gains among the best performing assets amid a broad risk-off mood.

Frontrunning: December 5

  • Clash Over Young Immigrants Hangs Over Year-End Budget Talks (BBG)
  • Businesses Lobby for Breaks After Last-Minute Tax Changes (WSJ)
  • Senate Bill ‘Bombshell’ Could Raise Taxes on Tech (BBG)
  • Europe sucked into sell-off, sterling suffers Brexit blues (Reuters)
  • After Tax Overhaul, GOP Will Pivot to Revamping Welfare (WSJ)

Israel Launches Air Strikes On Syrian Military Facility Near Damascus

Just days after Israel launched a combined air and surface-to-surface missile attack against what it claims is an Iranian military base south of Damascus, Israel has again attacked targets inside Syria, this time striking closer to the Syrian capital in the Jamraya area according to early reports.

"No-One Knows What’s Going On Now": Britain, EU Fail To Reach Brexit Deal

There was a burst of hope this morning that after many repeated false starts, Theresa May and JC Juncker would finally announce a Brexit deal on Monday. Alas it was not meant to be and after a brief conference between the two leaders, we learned that despite progress, a Brexit deal "was not possible today."