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.
Anthropic’s moral compass architect suggested AI overcorrection could address historical injustices
Supreme Court liberals side with Clarence Thomas on Taliban suicide bomber lawsuit, 3 others dissent
ActBlue employees pleaded the Fifth 146 times in depositions. Here’s what they didn’t want to answer
Myrtle Beach man with lengthy arrest record charged with stabbing two people in popular beach destination
Sheriff leading Nancy Guthrie probe admits quitting past police job to dodge discipline
Iran Opens Fire on Three Ships in Strait of Hormuz, Seizes Two of Them
Family of ‘Suicided’ Reporter Who Exposed Clinton in 2016 Comes Forward with Disturbing Inside Info
NPR Admits That It Could Get the Rich Libs to Pay For Coverage Trashing Conservatives Instead of Forcing Conservatives to Foot the Bill
Bombshell Indictment: Leftist SPLC ‘Secretly Funneled’ Over $3 Million to Members of White Supremacist and Extremist Groups
Red-state AI regulation push has links to the Left
After Dismissing Scandalous Photos, NFL Coach Admits Having ‘Difficult Conversations’ with Family
DOJ Confirms Outrageous Collusion Between Biden Admin and Pro-Abortion Groups to Track, Persecute, and Prosecute Pro-Lifers
Schlossberg unveils plan to crack down on ‘new frontier’ of AI putting the ‘squeeze’ on consumers: ‘Harbinger’
Iran fires on multiple ships in Strait of Hormuz after ceasefire extension
‘Stop this insanity’: Angel mom rips Newsom, Dems for bill to use taxpayer dollars for illegals’ defense
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.
Anthropic’s moral compass architect suggested AI overcorrection could address historical injustices
Supreme Court liberals side with Clarence Thomas on Taliban suicide bomber lawsuit, 3 others dissent
ActBlue employees pleaded the Fifth 146 times in depositions. Here’s what they didn’t want to answer
Myrtle Beach man with lengthy arrest record charged with stabbing two people in popular beach destination
Sheriff leading Nancy Guthrie probe admits quitting past police job to dodge discipline
Iran Opens Fire on Three Ships in Strait of Hormuz, Seizes Two of Them
Family of ‘Suicided’ Reporter Who Exposed Clinton in 2016 Comes Forward with Disturbing Inside Info
NPR Admits That It Could Get the Rich Libs to Pay For Coverage Trashing Conservatives Instead of Forcing Conservatives to Foot the Bill
Bombshell Indictment: Leftist SPLC ‘Secretly Funneled’ Over $3 Million to Members of White Supremacist and Extremist Groups
Red-state AI regulation push has links to the Left
After Dismissing Scandalous Photos, NFL Coach Admits Having ‘Difficult Conversations’ with Family
DOJ Confirms Outrageous Collusion Between Biden Admin and Pro-Abortion Groups to Track, Persecute, and Prosecute Pro-Lifers
Schlossberg unveils plan to crack down on ‘new frontier’ of AI putting the ‘squeeze’ on consumers: ‘Harbinger’
Iran fires on multiple ships in Strait of Hormuz after ceasefire extension
‘Stop this insanity’: Angel mom rips Newsom, Dems for bill to use taxpayer dollars for illegals’ defense
Federal Reserve Chairman Jerome Powell is due to give testimony to Congress on Wednesday about the U.S. economy. Most investors expect the Fed to keep interest rates on hold for now after cutting them three times since the summer.
ENERGY: Benchmark U.S. crude lost 37 cents to $56.43 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 6 cents on Tuesday. Brent crude, used to price international oils, shed 60 cents to $61.46 per barrel in London. It retreated 12 cents the previous session.
CURRENCY: The dollar fell to 108.84 Japanese yen from 109.01 yen. The euro dipped to $1.1006 from $1.1010.
Story cited here.
