Plugging one goal with the other

Markets were in a risk-off mood yesterday, led by a sell-off in tech shares and growing investor concerns about valuations and policy risks. The US made the books with the longest government shutdown in its history. Talks between EU environment ministers yesterday confirmed that the bloc remains committed to its headline goal of cutting greenhouse gas emissions by 90% by the end of 2040, but with greater flexibility built in. Tensions between China and the Netherlands –and by extension the EU– over chips supplies remain unresolved, but the broader economic impact on European or even global industry is still hard to gauge at this stage.