Global stocks sink after Trump threatens more China tariffs

BEIJING (AP) — Global stocks sank Wednesday after U.S. President Donald Trump threatened more tariff hikes on Chinese imports if talks aimed at ending a trade war fail to produce an interim agreement.

Market benchmarks in London, Frankfurt, Shanghai and Tokyo declined. Wall Street looked set to slip.

Trump said Tuesday that an agreement on the “Phase 1” deal announced last month “could happen soon.” But he warned he was ready to raise tariffs “very substantially” if that fails.

The two sides disagree publicly about whether the U.S. agreed to roll back some punitive tariffs imposed in the fight over Beijing’s trade surplus and technology ambitions. The Chinese government said last week that was settled, but Trump denied that.

Trump’s comments “served as a reminder of the challenge that the two sides face,” said Jingyi Pan of IG in a report. However, she said, investors saw them as “positioning statements,” reducing their impact.

Roblox CEO calls child predator crisis an ‘opportunity’ amid ban of gamer who exposed groomers on platform

Miami woman allegedly slices boyfriend with machete after restaurant fight over infidelity

‘Zizian’ ringleader accuses Trump admin of transgender ‘genocide’ in courtroom tirade

DHS says four House Democrats ‘chose to stand with criminal illegal aliens’ after visiting ICE detainee

Navy sailor dies after rescuing 2 children from high surf in Hawaii waters

Parents/Grandparents Alert: Christmas AI Teddy Bears Can Teach Kids About Bondage Sex, How to Light Matches, Where to Find Knives, Pills, Plastic Bags

Fact Check: Did the Trump Administration Declare Nurses Aren’t ‘Professionals’?

NYC Council welcomes new mayor with bill that would dramatically raise salaries for city officials

Taliban vows to respond after alleged Pakistani strikes rock Afghanistan overnight

Trump Admin to Begin ‘Comprehensive Review’ of Every Refugee Admitted to US Under Biden

Trump, Duffy slam Pritzker’s ‘soft-on-crime policies’ after Chicago woman set on fire on train

Missing Virginia high school coach investigated for child porn and soliciting a minor, police say

Fox News Politics Newsletter: Former Army captain warns Dems’ ‘unpatriotic’ video could spark chaos

‘World’s Strongest Woman’ Winner Disqualified After Being Found to Be a Man

Trump calls Chicago ‘out of control’ after train attack left woman critically burned

In midday trading, London’s FTSE 100 declined 0.5% to 7,331 and Frankfurt’s DAX lost 0.7% to 13,186. France’s CAC 40 shed 0.4% to 5,894. On Wall Street, futures for the benchmark Standard & Poor’s 500 index and the Dow Jones Industrial Average were each down 0.4%.

In Asia, the Shanghai Composite Index lost 0.3% to 2,905.24 and Tokyo’s Nikkei 225 sank 0.9% to 23,319.87. Hong Kong’s Hang Seng tumbled 1.8% to 26,571.46.

South Korea’s Kospi retreated 0.9% to 2,122.45 and Australia’s S&P-ASX 200 sank 0.8% at 6,698.40. India’s Sensex lost 0.3% to 40,215.20.

Hong Kong shares, already under pressure from the U.S.-China tariff war and slowing global demand, have been jolted by growing violence in anti-government protests.

The protests began in June over a proposed extradition law and expanded to include demands for greater democracy and other grievances. Hong Kong tumbled into its first recession in a decade in the latest quarter.

Momentum for the global stock market has been mostly upward for more than five weeks as worries about the U.S.-China trade war have eased.

This week, the U.S. Labor Department is due to give updates on consumer and wholesale inflation. Economists expect a government report to show retail sales returned to growth in October.