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.
Blasphemous California Tech Company Offers Paid Video Calls with AI ‘Jesus’ Avatar
Appeals court shuts down Boasberg contempt inquiry into Trump administration over El Salvador deportations
Kash Patel taunts Swalwell with FBI sit-down as resignation fallout grows
Mamdani’s government-run grocery stores will fail ‘like every socialist experiment’: economist
Saudi Arabia Pushes Trump Admin to End Strait of Hormuz Blockade Over Fears About Repercussions: Report
Cop who killed drug suspect with Igloo cooler appeals conviction that made him an example
Husband of missing American woman will remain in Bahamas after jail release, attorney says
‘I Do Nothing for the Approval of Man’: Riley Gaines Responds After Trump Says He’s ‘Not a Big Fan’ of Hers
DOJ Signals Probe Into Brutal Assault of Conservative Journalist Filming Anti-ICE Riot
Far-left Senate hopeful’s radical ties to ‘Maduro cronies’ could torpedo campaign: ‘Tired of the chaos’
Push to oust Trump exposes cracks among Democrats on strategy, timing
George Conway Chokes Back Tears Talking About Blowing Nearly $1M on Joe Biden
Mike Johnson raises $500,000 to fight Spanberger’s gerrymandering push in Virginia
State by state: Here’s where ICE has made the most arrests under Trump
Ranking the 2028 Democratic hopefuls at Al Sharpton’s National Action Network
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.
Blasphemous California Tech Company Offers Paid Video Calls with AI ‘Jesus’ Avatar
Appeals court shuts down Boasberg contempt inquiry into Trump administration over El Salvador deportations
Kash Patel taunts Swalwell with FBI sit-down as resignation fallout grows
Mamdani’s government-run grocery stores will fail ‘like every socialist experiment’: economist
Saudi Arabia Pushes Trump Admin to End Strait of Hormuz Blockade Over Fears About Repercussions: Report
Cop who killed drug suspect with Igloo cooler appeals conviction that made him an example
Husband of missing American woman will remain in Bahamas after jail release, attorney says
‘I Do Nothing for the Approval of Man’: Riley Gaines Responds After Trump Says He’s ‘Not a Big Fan’ of Hers
DOJ Signals Probe Into Brutal Assault of Conservative Journalist Filming Anti-ICE Riot
Far-left Senate hopeful’s radical ties to ‘Maduro cronies’ could torpedo campaign: ‘Tired of the chaos’
Push to oust Trump exposes cracks among Democrats on strategy, timing
George Conway Chokes Back Tears Talking About Blowing Nearly $1M on Joe Biden
Mike Johnson raises $500,000 to fight Spanberger’s gerrymandering push in Virginia
State by state: Here’s where ICE has made the most arrests under Trump
Ranking the 2028 Democratic hopefuls at Al Sharpton’s National Action Network
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.
