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The Breakfast Briefing: Global Stocks Fall On U.S.-China Trade Concerns
FYI: World stocks kicked off the week under pressure as trade tensions between Washington and Beijing continued to weigh on investor sentiment.
The Stoxx Europe 600 fell 1% in early morning trade, dragged down by the automotive and chemical sectors. Asian markets fell across the board, with Japan’s Nikkei shedding 2.1%.
On Wall Street, futures pointed to an opening loss of 0.5% for the S&P 500, following one of the worst openings for the month of December since 2008. Major indexes fell more than 4% last week.
Over the weekend, U.S. officials maintained a hard line in trade negotiations with China despite a truce struck between President Trump and Chinese President Xi Jinping in Buenos Aires at the start of the month. U.S. Trade Representative Robert Lighthizer said Sunday the U.S. would hold fast to its 90-day deadline for the conclusion of a lasting agreement, adding that Washington would impose punishing tariffs on Chinese imports if none is reached. Regards, Ted WSJ: https://www.wsj.com/articles/global-stocks-drop-as-u-s-china-trade-talks-set-to-begin-1544431368
