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.
Omar’s deleted tweet could give clue on alleged brother marriage
Trump’s war on drug cartels could gain powerful new ally after pivotal election
Missouri businesswoman and single mom killed when police SUV responding to emergency crashes into her Audi
Cornell rape accuser can remain ‘Jane Doe’ as judge warns threats could lead to federal charges
The parties have flipped on support for Israel
BLUE WAVE CRUSHED? Frank Luntz Warns CNN of Flawed Polling and Defiant Trump Voters
DHS Testing Nonlethal Device That Causes ‘Irresistible Urge to Run’ for Use at Border
The only band that ever mattered was … the Monkees
Department of War Releases New Batch of UFO Files, Including Data on ‘Black Triangle’ Incidents from This Year
Marriage Certificate from 1997 May Confirm the Real Identity of ‘Ilhan Omar’ and Her Marriage to Her Brother
Canada is feeling the pain from Trump’s tariffs — but the trade fight didn’t start overnight
Trump officials warn decades-long decline among American men could carry national security consequences
Katie Britt quietly invests in GOP candidates — and her own political future
A New England city was transformed by refugees – now it faces a youth gun violence crisis: ‘Fear for my life’
FBI arrests Georgia man accused of throwing Molotov cocktail at Atlanta ICE facility
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.
Omar’s deleted tweet could give clue on alleged brother marriage
Trump’s war on drug cartels could gain powerful new ally after pivotal election
Missouri businesswoman and single mom killed when police SUV responding to emergency crashes into her Audi
Cornell rape accuser can remain ‘Jane Doe’ as judge warns threats could lead to federal charges
The parties have flipped on support for Israel
BLUE WAVE CRUSHED? Frank Luntz Warns CNN of Flawed Polling and Defiant Trump Voters
DHS Testing Nonlethal Device That Causes ‘Irresistible Urge to Run’ for Use at Border
The only band that ever mattered was … the Monkees
Department of War Releases New Batch of UFO Files, Including Data on ‘Black Triangle’ Incidents from This Year
Marriage Certificate from 1997 May Confirm the Real Identity of ‘Ilhan Omar’ and Her Marriage to Her Brother
Canada is feeling the pain from Trump’s tariffs — but the trade fight didn’t start overnight
Trump officials warn decades-long decline among American men could carry national security consequences
Katie Britt quietly invests in GOP candidates — and her own political future
A New England city was transformed by refugees – now it faces a youth gun violence crisis: ‘Fear for my life’
FBI arrests Georgia man accused of throwing Molotov cocktail at Atlanta ICE facility
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.
