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.
White House unloads on violent ‘criminal alien’ nabbed after investigators uncover election offense
What does ‘Never Forget’ mean for a generation with no memory of 9/11?
If the US cuts funding to Israel, could Jordan and Egypt be next?
Have the Left and Right switched places on globalization and consumerism?
PBS’s ‘Marble Hall Murders’ features lovely locales, artful acting, and transfixing twists
‘Disgusting Excuse for a Journalist’: NBC Boston Ripped to Shreds Over Hit Piece on Clancy Holdout Juror
We Didn’t Get This Angry Because Americans Changed: We Got This Angry Because Washington Did
Fox News Legal Analyst Jonathan Turley Thoroughly Dismantles Lindsay Clancy’s Attorney After Debate Challenge
The Constitution Was Made for a Moral People: It’s Time to Teach Our Kids That Lesson
Obama Operative Turned Trump Voter Exposes the Anti-Working-Class Bigotry That Destroyed the Democrats
Fox News Stars Mourn the Brutal Murder of a Beloved ‘Fan Who Became a Friend’
Illegal Alien Released by Biden Admin Arrested After Allegedly Executing California Woman in Public
El-Sayed ignites firestorm after sharing 9/11 message on social media: ‘Piece of s—‘
Watch: CBS’ Gayle King Dumbfounded After Learning Lindsay Clancy Holdout Juror Is Black
Fox News True Crime Newsletter: Lindsay Clancy jurors, Bryan Kohberger’s legal move, Menendez brothers hearing
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.
White House unloads on violent ‘criminal alien’ nabbed after investigators uncover election offense
What does ‘Never Forget’ mean for a generation with no memory of 9/11?
If the US cuts funding to Israel, could Jordan and Egypt be next?
Have the Left and Right switched places on globalization and consumerism?
PBS’s ‘Marble Hall Murders’ features lovely locales, artful acting, and transfixing twists
‘Disgusting Excuse for a Journalist’: NBC Boston Ripped to Shreds Over Hit Piece on Clancy Holdout Juror
We Didn’t Get This Angry Because Americans Changed: We Got This Angry Because Washington Did
Fox News Legal Analyst Jonathan Turley Thoroughly Dismantles Lindsay Clancy’s Attorney After Debate Challenge
The Constitution Was Made for a Moral People: It’s Time to Teach Our Kids That Lesson
Obama Operative Turned Trump Voter Exposes the Anti-Working-Class Bigotry That Destroyed the Democrats
Fox News Stars Mourn the Brutal Murder of a Beloved ‘Fan Who Became a Friend’
Illegal Alien Released by Biden Admin Arrested After Allegedly Executing California Woman in Public
El-Sayed ignites firestorm after sharing 9/11 message on social media: ‘Piece of s—‘
Watch: CBS’ Gayle King Dumbfounded After Learning Lindsay Clancy Holdout Juror Is Black
Fox News True Crime Newsletter: Lindsay Clancy jurors, Bryan Kohberger’s legal move, Menendez brothers hearing
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.
