Stock Markets Plummet amid Uncertainty over the U.S.-China Trade War
Published on: 11/22/19 8:51 AM
There seemed to be fresh hope over the past two weeks regarding a possible U.S.-China trade deal. Now, however, there seems to be fresh worries after negative remarks regarding the deal from both sides of the aisle. This has caused stock markets across the U.S. Europe, and Asia to plummet as the current week comes to a close.
Forex broker comparison service FXBrokerFeed brings you news, and trends in the FX broker market, regarding the ongoing downfall of stock markets across the board.
No Market Spared
Stocks in major markets across the world are taking a tumble over fresh uncertainty about the upcoming U.S.-China trade deal. On Thursday, the FTSE 100 index fell by 37 (0.51%) points to 7,222.69. In Wall Street, both the S&P 500 and Dow Jones fell by 0.4%, while in London the Royal Mail was the biggest loser, tumbling by more than 12%. In Asia, Nikkei fell by 0.48% while the Hang Seng tumbled by 1.4%. Shanghai’s Composite Index also lost 0.25%.
The ongoing decline in stock markets around the world comes on the heels of a recent appreciation. For now, everything hinges on cooperation between China and the U.S.
A Doomed Deal?
President Donald J. Trump was earlier on quoted expressing optimism about a possible trade deal
between the U.S. and China. Yesterday, however, during a press conference held in Texas, the President was quoted saying, “I don’t think they are stepping up to the level that I want.” Across the aisle, Liu He, China’s top negotiator, expressed “cautious optimism” about phase one of the deal, but was later quoted saying that he was confused about the U.S.’s demands.
China is pushing for a rollback of the current tariffs while the U.S. is pushing fresh demands. If the ongoing talks collapse, the U.S. may implement new tariffs on $165 billion worth of Chinese goods on 15th
December. The tariffs will target electronics and Christmas decorations.
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