Asia stocks struggled on Tuesday as a fresh round of U.S.-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth.
Oil prices on Tuesday were within reach of four-year highs hit in the previous session, as looming U.S. sanctions against Iran and unwillingness by the Organization of the Petroleum Exporting Countries (OPEC) to raise output supported the market.
Instagram on Monday said co-founders Kevin Systrom and Mike Krieger have resigned as chief executive officer and chief technical officer of the photo-sharing app owned by Facebook Inc, with the pair giving scant explanation.
A senior Chinese official said on Tuesday that it is difficult to proceed with trade talks with the United States while Washington is putting “a knife to China’s neck”, a day after both sides heaped fresh tariffs on each other’s goods.
Confrontation between China and the United States means both sides lose, and talks with Washington cannot take place under threats and pressure, the Chinese government’s top diplomat State Councillor Wang Yi told U.S. business leaders.
Sino-U.S. trade talks have been difficult to proceed, with the United States putting a “knife to China’s neck”, Chinese vice commerce minister Wang Shouwen said on Tuesday.
Oil benchmark Brent rose for a second day on Tuesday, remaining within range of a four-year high reached during the previous session.
Co-founders of Facebook Inc’s Instagram, Kevin Systrom and Mike Krieger, have resigned as chief executive officer and chief technical officer, respectively, the photo-sharing app company announced late on Monday.
China is being forced to retaliate against the United States in their trade dispute, and U.S. exporters including suppliers of liquefied natural gas would “certainly” be hurt, said Chinese vice commerce minister Wang Shouwen.
Sino-U.S. trade talks have been difficult to proceed, with the United States “putting a gun to China’s head”, Chinese vice commerce minister Wang Shouwen said on Tuesday.
Asia stocks struggled on Tuesday as a fresh round of U.S.-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth.
Co-founders of Facebook Inc’s Instagram, Kevin Systrom and Mike Krieger, have resigned and plan to leave the photo-sharing app company in coming weeks, the New York Times reported late on Monday, citing people with direct knowledge of the matter.
Oil markets remained strong on Tuesday, with Brent crude near a four-year high reached the previous session.
Sears Holdings Corp Chief Executive Eddie Lampert, a major investor in the company, has proposed rescue deals to help the department store chain avoid bankruptcy as debt matures next month and it faces a cash crunch, according to a regulatory filing released on Monday.
Asia stocks struggled on Tuesday as the latest round of U.S.-China tariffs revived fears the trade dispute would knock global growth, while crude oil was elevated near four-year highs after Saudi Arabia and Russia ruled out immediate production increases.
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