Wall Street falls as US-China trade tensions rise

Wall Street falls as US-China trade tensions rise

-China trade war have been stoked by a report that the United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping falter. The reports - all based on a Bloomberg article - say that the U.S. will place tariffs on the remaining $257 billion of Chinese imports not already subject to tariffs if there are no new developments in the ongoing trade spat.

He has long threatened to impose tariffs on all remaining Chinese imports into the USA if Beijing fails to meet his demands for sweeping changes to trade, technology transfer and industrial subsidy policies.

If the new duties are imposed, all imports from China would be subject to U.S. tariffs. The euro fell to $1.1390 from $1.1412.Tokyo's Nikkei 225 sank 0.2 percent and Seoul's Kospi lost 1.5 percent.

For most of this year investors have remained hopeful that the USA and China would work out their disagreements on trade policy and that numerous tariffs would be reduced or eliminated.

Referring to the 500 billion dollars which Trump claimed China annually got from the United States, he pledged that Washington will win an economic confrontation with Beijing. The Shanghai Composite index rebounded 1.2 percent to 2,573.33 and South Korea's Kospi picked up 1.3 percent to 2,021.82.

Venice flooded as storms hit Italy
Veneto regional governor Luca Zaia says flooding could reach the levels of the 1966 flood that inundated both Venice and Florence. People clean up debris a day after a storm washed up several boats, in Rapallo, northern Italy, on October 30, 2018.

Iranian foreign minister arrives in Pakistan to discuss missing border guards
He said that Ankara is holding consultations with the European countries to find ways to continue cooperation with Iran. The bilateral relationship has withstood the test of times. " Pakistan and Iran enjoy close brotherly relations.

Bride-to-be Priyanka Chopra dances at her bridal shower
They will have a limited guest list of 200 people with only their close friends and family in attendance. Chopra recently told ET that her wedding day style will be "comfortable and cute".

New Zealand's two-year swap rate rose 1 basis point to 1.99 per cent; the 10-year swaps were unchanged at 2.78 per cent. The Russell 2000 index of smaller-company stocks fell 6.51 points, or 0.4%, to 1,477.31. The Dow Jones Industrial Average ended down 1 percent, while the Nasdaq fell 1.6 percent, also on weakness in technology and internet shares. The trade war started with Trump's steel and aluminum tariffs, quickly escalating to include tariffs on US farm products, most notably soybeans and pork.

Any further broadening of tariffs would show the Trump administration's determination to escalate its trade war with China even as companies complain about the rising costs of tariffs and financial markets continue to be nervous about the global economic fallout.

In Europe, Britain's FTSE 100 added 0.2 percent to 7,042.

Brazil's Bovespa rose in morning trading after far-right politician Jair Bolsonaro was elected president, but it later ended down 2.2%. The contract dropped 55 cents to settle at $67.04 a barrel in NY. The dollar strengthened on better-than-expected private payrolls data, lifting the 10-year Treasury yield to 3.14 percent. Copper was little changed at $2.74 a pound.The dollar rose to 112.35 yen from 111.85 yen.

Related Articles

  • Copa del Rey: Real Madrid’s squad against Melilla released [Full list]

    Copa del Rey: Real Madrid’s squad against Melilla released [Full list]

    Melilla play in the third-tier of Spanish football and hail from an autonomous Spanish city bordered by Morocco. They will then travel to Poland next week, playing Viktoria Plzen in a Champions League group game.
    Jewish Doctor, Nurses Tended to Pittsburgh Synagogue Shooter’s Injuries

    Jewish Doctor, Nurses Tended to Pittsburgh Synagogue Shooter’s Injuries

    A funeral was also set Tuesday for Daniel Stein, a man seen as part of the core of his congregation. The media, she said, has "a huge responsibility to play in the divisive nature of the country".
    Nicki Minaj and Cardi B end feud

    Nicki Minaj and Cardi B end feud

    She added: "And then you have your sister calling me a crackhead and leak numbers?". Nicki said that Rah Ali punched Cardi B in the head "9 or 10 times".
  • All 74 Super Smash Bros. Ultimate Characters Have Been Revealed

    All 74 Super Smash Bros. Ultimate Characters Have Been Revealed

    Called World of Light, it's sending players on a journey alongside Kirby to save the rest of the fighters and Nintendo characters. Ultimate , the company announced that both Ken from Street Fighter and Incineroar from Pokemon will be joining the roster.
    Woman Arrested in Rochester Crash Out of Jail, NTSB Investigating

    Woman Arrested in Rochester Crash Out of Jail, NTSB Investigating

    Tippecanoe Valley High School said in a statement that "our school corporation has suffered a tragedy this morning". The horrific auto crash took place at 7.30am on Tuesday in rural Rochester, Indiana on a two-lane road near 4600 N.
    Trump says birthright citizenship will be ended

    Trump says birthright citizenship will be ended

    Napolitano said that the debate over birthright citizenship isn't serious, disagreeing with Jonathan Turley's argument . Here's what you need to know about birthright citizenship - and why the president wants to get rid of it.
  • Andre Drummond's ejection prompts more trash talk from Joel Embiid

    Andre Drummond's ejection prompts more trash talk from Joel Embiid

    After Tuesday's game, Embiid averaging 27.8 points and 9.8 rebounds in four career games against the Pistons. Griffin controlled the game throughout its duration, and only an overtime push by J.J.
    Trump loads up on rallies before election day

    Trump loads up on rallies before election day

    Trump is expected to do at least 10 rallies in the final stretch before Election Day, doubling up on rallies on many days. The Florida Democratic Party said RSVP information for Friday's Miami rally will be available in the coming days.
    Apple announces new MacBook Air with Retina display, starts at $1,199

    Apple announces new MacBook Air with Retina display, starts at $1,199

    Tim Cook kicks things off with the Mac, then reveals another major milestone: Macs' active installed base just hit 100 million. The key highlight of the new iPad Pro is that it comes with Face ID support, and is powered by the A12X Bionic processor.
  • Meghan Markle's 'Casual' Habit Could Get Her in Royal Trouble

    Meghan Markle's 'Casual' Habit Could Get Her in Royal Trouble

    Meghan deleted her Instagram shortly after Kensington Palace announced she and Harry were in relationship. They have also been to Australia, Tonga and Fiji during their first overseas trip as a married couple.
    Adenovirus: 9th Child Dead In North Jersey

    Adenovirus: 9th Child Dead In North Jersey

    The children's ages are not being released to protect patient privacy, said Nicole Kirgan, a health department spokeswoman. Specifically, it was determined that the facility failed to provide a clean and home-like environment for their residents.
    Svitolina overcomes Bertens in gruelling WTA semi

    Svitolina overcomes Bertens in gruelling WTA semi

    A stunned Stephens lost the opening eight games before turning things around to win 12 of the next 15. The title at the WTA Finals was for Elina's fourth of the season and 13th in his career.