Stock market news: Trump trade war uncertainty send markets lower

President Trump’s suggestion that he won’t meet Chinese Premier Xi Jinping before a crucial March 1 trade war deadline has pounded US markets amid fears of tariff escalation.

The President shook his head when reporters asked about the chances of a meeting sending global equities lower as hopes of an early trade deal between the two countries diminished.

Selling was triggered after White House economic advisor Larry Kudlow said on Fox on Thursday that “there is a pretty sizeable distance to go” to achieve a deal.

“Whilst this is a bit of a blow, it’s not in itself a reason to think trade talks are not going anywhere,” said Neil Wilson, chief market analyst for Markets.com. “It’s hard to see much in the way of a positive catalyst as we approach the weekend.”

Here’s the run-down:

  • US markets closed down Thursday and continued to be hit Friday with the Dow, S&P 500, and Nasdaq all 0.3% lower as of 8.35 a.m in London (3.35 a.m in New York).
  • Japan’s Nikkei plummeted 2% amid continued Lunar New Year celebrations elsewhere in the region with investors increasingly fearful about trade tariffs escalating.
  • South Korean and Australian markets closed down while Hong Kong’s Hang Seng also finished 0.2% lower.
  • Europe’s markets are a mixed picture with the FTSE 100 and CAC 40 both trading up 0.3% while Italy’s FTSE MIB is up 0.5% even after the country’s growth forecasts for 2019 were slashed Thursday.

If no trade deal is agreed by March 1, tariffs on about $200 billion worth of Chinese exports to the US will increase from 10% to 25%.

Source link

more recommended stories

  • George Zimmerman was banned from Tinder over user safety

    George Zimmerman — the man who.

  • Wall Street banks juniorization – Business Insider

    Junior bankers are taking over Wall.

  • Tesla board of directors changes: Buss, Rice, Jurvetson, Gracias are leaving

    Tesla on Friday announced four members.

  • “Jeopardy!” champions use statistics and game theory to win millions

    Just making it onto the show.

  • BuzzFeed struggling to defend Trump-Cohen scoop after Mueller report discredited it

    When BuzzFeed reported on January 17.

  • A Google employee in Silicon Valley has reportedly been diagnosed with measles

    Google, which has faced criticism for.

  • Pinterest prices IPO – Business Insider

    Pinterest, the self-described “visual discovery” platform,.

  • Alexandria Ocasio-Cortez, Andy Barr coal mine visit falls apart

    A trip that would have shown.

  • Facebook uploaded 1.5 million users’ email contacts without permission

    Facebook harvested the email contacts of.

  • $85,000 bet on Tigers Woods that won $1.2 million was man’s first sports bet

    When Tiger Woods won the Masters.

  • Libratone Zipp 2 Smart Wireless Speaker review: Portable smart speaker

    Insider Picks writes about products and.

  • Bernie Sanders releases 10 years of tax returns after weeks of delays

    Sen. Bernie Sanders on Monday released.

  • How to clear out your Gmail by bulk deleting old emails

    I arrived at work on Monday.

  • El Chapo Guzman in a US jail as El Mayo and Sinaloa cartel fight CJNG

    Former Sinaloa cartel kingpin Joaquin “El.

  • Tiger Woods’ new girlfriend Erica Herman shows up to big tournaments

    Tiger Woods has been dating 33-year-old.

  • Emmanuel Deshawn Aranda: alleged Mall of America pusher has chaotic record

    Authorities say a five-year-old boy who.

  • Uber IPO: Uber may owe another $128 million to Google

    An earlier version of this story.

  • Watch SpaceX Falcon Heavy’s second launch

    SpaceX has launched the most powerful.

  • Michael Avenatti allegedly stole $3 million from client with paraplegia

    As part of a 36-count indictment.

  • Salesforce bought CEO Keith Block a $212,000 car and an $86,000 watch

    Salesforce co-CEO Keith Block was awarded.

  • PagerDuty raises IPO price range

    IT unicorn PagerDuty raised its IPO.

  • Facebook ‘Watch Party’ feature is popular with pirates for movies, shows

    Facebook’s new video-streaming feature, Watch Party,.

  • JetBlue shares soar after report it may launch European flight service

    JetBlue appears to be gearing up.

  • San Diego hospital allegedly secretly filmed female patients

    When Eileen Brandt first woke up.

  • DCMS white paper: UK lays out proposed laws to regulate social media

    The internet’s days as the Wild.

  • Kirstjen Nielsen out as Trump’s Homeland Security Secretary

    Kirstjen Nielsen is out as secretary.

  • Kirstjen Nielsen is out: People who left, were fired from Trump administration

    Nikki Haley, the US Ambassador to.

  • Boeing 737 design quirk may have complicated Ethiopian Airlines flight

    Ethiopia’s Aircraft Accident Investigation Bureau (AIB).

  • Amazon paid $97 million for Eero in fire sale that left some with almost nothing

    Amazon paid $97 million to acquire.

  • Elon Musk was accused of shoving, threatening to ‘nuke’ ex-Tesla employee: report

    Tesla CEO Elon Musk was involved.

  • TV shows to watch on Netflix this week

    Netflix features hundreds of TV shows.

  • Colombia rejects Russia warning against Venezuelan military action

    BOGOTA (Reuters) – Colombia on Tuesday.