Trump's demands that China buy as much as $50 billion of U.S. farm products hasbetween the world's two largest economies, Reuters reported on Wednesday citing sources briefed on the negotiations.
Reuters also reported that a U.S. official had suggested the "phase one" interim deal may not be signed at a summit in Chile next month, while Beijing's United Nations envoy also hit out at Washington and other UN nations over their criticism of China's detention of minority Muslim populations. Asian stocks fell on Wednesday afternoon, with China's Shenzhen composite and Shenzhen component leading losses.
Investors are also looking ahead to an interest rate decision from the U.S. Federal Reserve. The Federal Open Markets Committee meets later on Wednesday and is widely expected to cut rates by 25 basis points for the third time this year. Back in Europe, the U.K. has confirmed it will hold a general election on December 12 after Prime Minister Boris Johnson gained approval from Parliament Tuesday night. The early ballot is intended to break the Brexit stalemate which has paralyzed British politics in recent months.
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