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.
Unbelievable – She Might Actually Win a District Dominated By Trump: Democrat Aftyn Behn’s Most Unhinged Moments
Afghan Suspect Faces First-Degree Murder Charge in National Guard Shooting
Watchdog group hits Letitia James with bar complaint after federal judge tosses case
Inside NORAD’s holiday command: How the same team that tracks Santa guards North America
National Guardsman shot in DC is ‘hanging on,’ family pleading for prayer, congressman says
Meta Tolerated Sex Traffickers With 17-Strike System, Lawsuit Claims
Criminal networks exploit US interstates to make human trafficking victims vanish: ‘Real plague’
This Is Why You Can’t Trust Public Schools: Teachers Union Teaches ‘Interrupting Whiteness’
Hegseth defends lethal strikes against alleged drug traffickers: ‘Biden coddled terrorists, we kill them’
White House implored to institutionalize DOGE after reports of premature demise
Court Rules 12-Year-Old’s Mother Cannot Read Her the Bible, Take Her to Church
Illinois man charged with arson after allegedly setting home ablaze on Thanksgiving
USCIS halts ‘all asylum decisions’ after DC shooting of National Guard members
Abbey Gate Gold Star father blisters Biden after Afghan national allegedly ambushes 2 National Guardsmen in DC
Northwestern to pay $75M in federal civil-rights deal after antisemitism probes
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.
Unbelievable – She Might Actually Win a District Dominated By Trump: Democrat Aftyn Behn’s Most Unhinged Moments
Afghan Suspect Faces First-Degree Murder Charge in National Guard Shooting
Watchdog group hits Letitia James with bar complaint after federal judge tosses case
Inside NORAD’s holiday command: How the same team that tracks Santa guards North America
National Guardsman shot in DC is ‘hanging on,’ family pleading for prayer, congressman says
Meta Tolerated Sex Traffickers With 17-Strike System, Lawsuit Claims
Criminal networks exploit US interstates to make human trafficking victims vanish: ‘Real plague’
This Is Why You Can’t Trust Public Schools: Teachers Union Teaches ‘Interrupting Whiteness’
Hegseth defends lethal strikes against alleged drug traffickers: ‘Biden coddled terrorists, we kill them’
White House implored to institutionalize DOGE after reports of premature demise
Court Rules 12-Year-Old’s Mother Cannot Read Her the Bible, Take Her to Church
Illinois man charged with arson after allegedly setting home ablaze on Thanksgiving
USCIS halts ‘all asylum decisions’ after DC shooting of National Guard members
Abbey Gate Gold Star father blisters Biden after Afghan national allegedly ambushes 2 National Guardsmen in DC
Northwestern to pay $75M in federal civil-rights deal after antisemitism probes
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.
