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.
Attacks of 9/11 sent Rep. Eli Crane into the military and shaped the way he views the Iran war
Reporter’s Notebook: Countdown is on as Senate races to pass crypto, college sports bills
Court documents show groups inspiring ‘satanist’ teenager’s alleged plans to attack Christians
AOC’s ‘modern-day lynchings’ claim torn to shreds online as Black hanging case findings tell a different story
Mamdani greets America’s Mayor Rudy Giuliani despite calls to skip 9/11 memorial
Flashback: How James Woods Encountered, Then Reported Multiple 9/11 Hijackers to the FBI
Trump Rejects Saudi Crown Prince’s Pleas for New U.S. Strikes in Middle East: Report
Trump admin’s fraud crackdown targets foreigners accused of infiltrating U.S. federal programs
Giuliani blasts Mamdani’s 9/11 toxic air blame as buried city records come to light
In pictures: Trump, Bush, and more pay their respects at 9/11 ceremonies across three sites on 25th anniversary
Lone holdout juror in Lindsay Clancy trial was only Black person on the jury, panelist reveals: report
WATCH LIVE: Trump, first lady, Hegseth, and more attend 9/11 memorial at the Pentagon
Sept. 11 in photos: Washington Examiner photographer Graeme Jennings shares his images from the aftermath of 9/11
Trump set to honor 9/11 victims and first responders at Pentagon and more top headlines
The Ghouls Come Out After Erika Kirk Breaks Her Silence on Anniversary of Charlie’s Death
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.
Attacks of 9/11 sent Rep. Eli Crane into the military and shaped the way he views the Iran war
Reporter’s Notebook: Countdown is on as Senate races to pass crypto, college sports bills
Court documents show groups inspiring ‘satanist’ teenager’s alleged plans to attack Christians
AOC’s ‘modern-day lynchings’ claim torn to shreds online as Black hanging case findings tell a different story
Mamdani greets America’s Mayor Rudy Giuliani despite calls to skip 9/11 memorial
Flashback: How James Woods Encountered, Then Reported Multiple 9/11 Hijackers to the FBI
Trump Rejects Saudi Crown Prince’s Pleas for New U.S. Strikes in Middle East: Report
Trump admin’s fraud crackdown targets foreigners accused of infiltrating U.S. federal programs
Giuliani blasts Mamdani’s 9/11 toxic air blame as buried city records come to light
In pictures: Trump, Bush, and more pay their respects at 9/11 ceremonies across three sites on 25th anniversary
Lone holdout juror in Lindsay Clancy trial was only Black person on the jury, panelist reveals: report
WATCH LIVE: Trump, first lady, Hegseth, and more attend 9/11 memorial at the Pentagon
Sept. 11 in photos: Washington Examiner photographer Graeme Jennings shares his images from the aftermath of 9/11
Trump set to honor 9/11 victims and first responders at Pentagon and more top headlines
The Ghouls Come Out After Erika Kirk Breaks Her Silence on Anniversary of Charlie’s Death
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.
