LONDON - Global stocks gained on Friday after a battering this week as investors held out a sliver of hope for a trade deal amid last-ditch talks between the United States and China, even as a fresh round of U.S. tariffs on Chinese goods took effect.
But the gauge was set for its worst weekly performance since late December 2018, with a loss of 2.75% as bets on an imminent trade deal between the U.S. and China unraveled after tensions unexpectedly flared up during negotiations between the two sides.U.S. President Donald Trump’s tariff increase to 25% from 10% on $200 billion of Chinese goods kicked in on Friday, and Beijing said it would strike back.
“To believe that a deal can be sealed in a couple of weeks and that matters won’t escalate any further before we get there seems like wishful thinking.” The White House has said the two sides would resume negotiations on Friday morning in Washington after concluding the first of two days of talks on Thursday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks gain on trade deal hopes, set for worst week since DecemberGlobal stocks made gains on Friday as investors held out hopes for a trade deal ...
Source: Reuters - 🏆 2. / 97 Read more »
Fresh Trade Tensions Upend Market CalmStocks around the world dropped after the sudden intensification of U.S.-China trade tensions, sowing fears the conflict could spill over into slower economic growth. Get your cash ready, things are about to get discounted... Thanks realDonaldTrump maggieNYT As dark as it is, I find myself hoping for a recession just so we can get a reset on all this plutocratic fuckery that goes on.
Source: WSJ - 🏆 98. / 63 Read more »
‘Uh-Oh, Here We Go Again’: This Week’s Trade Standoff Wipes $2 Trillion Off Global StocksAs expectations for a U.S.-China trade accord faded stocks in trade-sensitive sectors and emerging-market currencies tumbled. Meanwhile, investors braced for more choppiness ahead and piled into ultrasafe government bonds. Donald Trump is destroying US in the same ways he destroyed every single business he ran into the ground. I understand Congress delegated authority to enact tariffs for national defense reasons. But, the WH makes no pretense about defense considerations. Would constitutional conservatives on SCOTUS back the unconstitutional taxing by Exec Branch? If so, why I've said it many times now. Trump is a hazard to your wealth. Doesn't matter which end of the spectrum you are in financially.
Source: WSJ - 🏆 98. / 63 Read more »