U.S. stocks extended losses on Wednesday, set to snap their four-day winning streak, and metals prices slumped as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world’s two biggest economies closer to a full-scale trade war.
China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods and rattling global markets.
Global benchmark Brent crude oil had its biggest one-day drop in two years on Wednesday as escalating U.S.-China trade tensions threatened to hurt oil demand, and news that Libya would reopen its ports raised expectations of growing supply.
The U.S. dollar strengthened on Wednesday as the market put aside trade tension fears and focused on the Labor Department’s expectation-beating inflation report, which increased prospects that the Federal Reserve will raise interest rates another two times this year.
Global stocks were dragged under by another wave of trade war worries as Donald Trump turned up the heat on China with plans to impose new tariffs on $200bn (£151bn) of goods. Just days after firing the first shot in its trade skirmish with Beijing, the Trump administration unveiled a list of 6,000 Chinese products ranging from toilet paper to baseball gloves that will face a 10pc tariff. The Chinese commerce ministry said that it was “shocked at the US action” and warned that it would be forced to retaliate “to protect the core interests of the nation and its …read more […]
U.S. stocks looked set on Wednesday to snap a four-day winning streak after Washington’s threat to impose tariffs on an additional $200 billion worth of Chinese goods fanned trade war fears, while a sharp drop in oil prices hit energy.
General Electric Co’s chief executive for Latin America took part in a medical equipment price-fixing scheme while at the conglomerate, making it a member of an international health-care cartel, according to allegations in a document filed by federal prosecutors.
Twitter is ready to squeeze a lot more money out of its trending topics. …read more […]
The United States signed an agreement with ZTE Corp that paves the way for the Chinese tech company to resume operations after a nearly three-month old ban on doing business with American suppliers, the U.S. Commerce Department said on Wednesday.
Global benchmark Brent plummeted on Wednesday, dropping more than 5 percent a barrel as trade tensions escalated between the United States and China and expectations of growing supplies mounted on news that Libya would reopen ports.
Global markets are in turmoil as the Trump administration intensifies its trade war once again. The US administration late on Tuesday released a huge list of new tariffs on $200 billion worth of goods from China. Stocks in China and the rest of Asia tumbled overnight, spreading to Europe after markets opened. …read more […]
U.S. stocks fell on Wednesday and looked set to snap their four-day winning streak after Washington’s threat to impose tariffs on an additional $200 billion worth of Chinese goods raised fears of an escalating trade war.
China responded to Trump’s threats by accusing the United States of bullying and warned that it would hit back. “These companies have the most going on with China tariffs, so they would be the ones that get hurt the most,” said Mark Esposito, chief executive officer of Esposito Securities in Dallas. …read more […]
Pfizer Inc announced plans on Wednesday to reorganize into three units, separating its consumer healthcare business that the U.S. drugmaker has been trying to sell since last year.
Fast-food company Restaurant Brands International said on Wednesday it plans to open 1,500 outlets of its Canadian coffee-and-donut chain Tim Hortons in China over the next decade, capitalizing on a growing cafe culture in the world’s second-largest economy.
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