The stock decline on Monday came after a Sunday speech by Vice President Mike Pence saying there would be no end to U.S. charges on $250 billion worth of Chinese goods unless Beijing changed its ways.
Consumer demand was the second biggest risk cited by CFOs, at 24 percent. But it had been the No. 1 concern of CFOs in Q3, and fell off by a considerable percentage as CFO concerns about trade hit their highest quarterly mark in 2018. The percentage of CFOs citing central bank policy as their biggest concern increased slightly, from 10 percent to 13.5 percent, but near-60 percent of CFOs expect the Federal Reserve to raise rates again in December.
While the market volatility is clearly weighing on CFOs, and the political headlines continue to increase uncertainty, CFOs were still mostly positive on the global macroeconomic conditions in Q4, with every region around the globe being rated as "stable." The United States, in particular, was the only region described as "improving," which is a tag the U.S. has received from CFOs taking the survey for eight quarters in a row.
(Note: The CNBC Global CFO Council Survey for the fourth quarter was conducted from Nov. 13–19, 2018. Thirty-seven of the 121 global members responded to the survey, including 15 North America members, 13 EMEA members and 9 APAC members.)
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