Fears that an escalating trade war between the U.S. and China will slash global economic growth pulled world stock markets down to near two-and-a-half-month lows on Wednesday and continued to feed a rally in safe-haven government bonds.
Wall Street’s main indexes hit more than two-month lows on Wednesday, after China signaled further escalation in its trade war with the United States, fuelling fears that the dispute could be protracted and pressure global economic growth.
China’s Huawei Technologies Co Ltd has filed a legal motion seeking to declare a U.S. defense law unconstitutional, in the telecom equipment maker’s latest bid to fight sanctions from Washington that threaten to push it out of global markets.
The S&P 500 and the Nasdaq fell to their two-month lows on Wednesday after China signaled readiness to escalate the trade war with the United States, triggering fears of a long, drawn-out dispute that could weigh on global growth.
The S&P 500 opened at a more than two-month low on Wednesday as China’s readiness to escalate its trade war with the United States fueled fears that the dispute could be long drawn and weigh on global growth.
The global bond rally accelerated on Wednesday, sending 10-year U.S Treasury yields to 20-month lows, as investors fearful of the fallout from the Sino-U.S. trade war sold shares and scurried for the safety of German and U.S. government debt.
Secretary of State Mike Pompeo kept up U.S. pressure on Huawei Technologies Co Ltd on Wednesday, saying the Chinese tech giant takes orders from Beijing.
Arif Naqvi, the Pakistani founder of collapsed private equity firm Abraaj Group, has been released from custody after meeting bail conditions including the payment of a 15 million pound ($19 million) security, a court official said.
Secretary of State Mike Pompeo kept up U.S. pressure on Huawei Technologies Co Ltd on Wednesday, saying the Chinese tech giant takes orders from Beijing.
Pakistani airspace on its eastern border with India will remain closed until June 14, a civil aviation official said on Wednesday, the latest extension months after a standoff between the arch rivals.
ArcelorMittal underlined the problems facing the European steel industry when it cut production for the second time this month, blaming weak demand and high imports.
Nissan on Wednesday told Renault it wasn’t opposed to its partner’s potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry.
With no sign Sino-U.S. trade tensions will let up and fears of an Italy-European Union confrontation growing again, the global bond rally accelerated on Wednesday, as investors dumped shares and scurried for the safety of German and U.S. government debt.
The Permanent Court of Arbitration in Singapore has rejected India’s argument that the court does not have the jurisdiction to rule on a case brought against India by Japan’s Nissan Motor, according to two people and documents reviewed by Reuters.
German prosecutors are investigating the chief executive of Volkswagen’s Porsche business, Oliver Blume, over a possible breach of fiduciary trust tied to payments made to a Porsche works council member, a newspaper reported on Wednesday.
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