Trade-sensitive stocks on ropes as uncertainty weighs

  • 📰 Reuters
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 97%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

A week of worsening fears on Wall Street leading up to Washington's increas...

- A week of worsening fears on Wall Street leading up to Washington’s increase on tariffs on Chinese goods has taken a toll on stocks that rely heavily on global trade.

With U.S. President Trump saying he is in no hurry to sign a deal with China, the United States raised its tariffs on $200 billion in Chinese goods to 25% from 10% on Friday, rattling financial markets already worried the 10-month trade war between the world’s two largest economies could spiral out of control. China’s Commerce Ministry has said it would take countermeasures against the increase in U.S. tariffs.

After Trump said last Sunday he was reversing a decision he made in February to keep tariffs at 10%, Wall Street descended from record highs reached at the start of the month. Shares of semiconductor companies, the U.S. sector that relies more than any other on China for its revenue, turned sharply lower this week, with the Philadelphia Semiconductor Index down 5.8% since Sunday and slashing its year-to-date gain to 28%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 2. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock-market strategist says Wall Street should shake of Trump trade anxieties and ‘buy this dip’Fundstrat Global Advisors analyst Thomas Lee says there is reason to be a buyer in this downbeat environment. ‘off’ Shake of? Does anyone proofread before hitting send?
Source: MarketWatch - 🏆 3. / 97 Read more »

McKesson stock up 1.3% after company posts earnings above Wall Street expectationsShares of McKesson Corp. rose 1.3% in premarket trade Wednesday after the company reported fourth-quarter earnings that beat Wall Street expectations, though...
Source: MarketWatch - 🏆 3. / 97 Read more »