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.
The unlucky 13: States bordering Canada are particularly hard-hit by trade war
Wendell Berry, 1934-2026
Trump admin’s list of US-designated ‘foreign terrorist’ groups in Latin America expands to 21
‘I’m coming home’: Last words haunt a 9/11 daughter 25 years later as she builds a legacy in his honor
Hasan Piker, cowboys, Charlie Kirk, and more: Top six takeaways from Republican midterm convention Night 2
Vance describes his hopes for baby son as he lays down a marker for 2028 with the speech of his life
Charlie Kirk supporters return to site of assassination 1 year later: ‘We are still standing’
Crowd erupts as Vance smacks down protester waving Mexican flag: ‘Get your a– over there’
Juror on Lindsay Clancy trial says ‘we let down Lindsay’ following mistrial
Top GOP senator reveals what Dem colleagues are fretting about behind closed doors
Patrol sergeant accused of murdering sheriff’s captain in yearslong romantic dispute over woman they dated
Several People Who Were Fired Over Charlie Kirk Comments Got Big Payouts or Were Given Their Jobs Back
Vance declares Democrats ‘party of hatred,’ says party has moved beyond big government, censorship
JD Vance to invoke Charlie Kirk, family ‘birthright’ in fiery midterm keynote speech thrashing Dems
Top Trump official reveals how 30-minute military op unlocked Venezuela oil windfall for US buyers
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.
The unlucky 13: States bordering Canada are particularly hard-hit by trade war
Wendell Berry, 1934-2026
Trump admin’s list of US-designated ‘foreign terrorist’ groups in Latin America expands to 21
‘I’m coming home’: Last words haunt a 9/11 daughter 25 years later as she builds a legacy in his honor
Hasan Piker, cowboys, Charlie Kirk, and more: Top six takeaways from Republican midterm convention Night 2
Vance describes his hopes for baby son as he lays down a marker for 2028 with the speech of his life
Charlie Kirk supporters return to site of assassination 1 year later: ‘We are still standing’
Crowd erupts as Vance smacks down protester waving Mexican flag: ‘Get your a– over there’
Juror on Lindsay Clancy trial says ‘we let down Lindsay’ following mistrial
Top GOP senator reveals what Dem colleagues are fretting about behind closed doors
Patrol sergeant accused of murdering sheriff’s captain in yearslong romantic dispute over woman they dated
Several People Who Were Fired Over Charlie Kirk Comments Got Big Payouts or Were Given Their Jobs Back
Vance declares Democrats ‘party of hatred,’ says party has moved beyond big government, censorship
JD Vance to invoke Charlie Kirk, family ‘birthright’ in fiery midterm keynote speech thrashing Dems
Top Trump official reveals how 30-minute military op unlocked Venezuela oil windfall for US buyers
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.
