Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  WTI       

WTI

SummaryQuotesChartsNews 
News SummaryAll newsMarketScreener Strategies

Global Stocks Drop After Trump Signals Further Delays to China Deal

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/03/2019 | 06:41am EST

By Anna Isaac

Global stocks fell Tuesday after President Trump signaled that he might be willing to wait to strike a trade deal with China until after the U.S. elections next year.

Futures linked to the Dow Jones Industrial Average declined 0.4%, reversing gains posted earlier in the day. The pan-continental Stoxx Europe 600 gauge fell almost 0.2%.

Mr. Trump said he has "no deadline" for reaching a trade accord with China, prompting concerns that a long-awaited end to the trade war between the world's two biggest economies may be further delayed.

The dispute between the two countries, which has curtailed global trade as both sides imposed tariffs and threatened new levies, has weighed on the outlook for economic growth around the world. An agreement with China is dependent on whether he wants to make one, the president said in London on Tuesday.

"It might take longer for the China situation to be resolved," said Geoffrey Yu, head of the U.K. investment office at the wealth-management arm of UBS. The protracted negotiations with China, now likely to be extended, also "will not prevent him from pursuing other trade battles."

The U.S. on Monday moved toward opening multiple new fronts in Mr. Trump's global trade war.

The White House proposed tariffs against $2.4 billion of French imports in response to the European nation's new digital-services tax, which it said unfairly targets U.S. tech companies such as Apple and Alphabet's Google. The U.S. trade representative's office said it would accept public comments through at least Jan. 14 before moving forward with the levies.

"Tariffs will be a part of statecraft from now on," Mr. Yu said. "There are no allies when it comes to tariffs right now."

The threat to impose levies on French products came within hours of Mr. Trump saying he would revive tariffs on steel and aluminum imports from Brazil and Argentina, a move that caught investors off-guard on Monday and weighed on U.S. stocks.

Earlier in the day, trading across Asia was mixed. The Shanghai Composite Index ended the day up 0.3% while Japan's Nikkei 225 gauge fell 0.6% before Mr. Trump made his comments on the China deal.

Brent crude, the global benchmark for oil prices, gave up earlier gains and traded almost flat at $60.85 a barrel.

Later in the day, software maker Salesforce.com will report earnings after markets close in the U.S.

Write to Anna Isaac at anna.isaac@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHINA-SHANGHAI COMP 0.10% 2917.32 End-of-day quote.16.79%
DJ INDUSTRIAL -0.10% 27881.72 Delayed Quote.19.52%
NASDAQ 100 -0.10% 8354.292492 Delayed Quote.32.66%
NASDAQ COMP. -0.07% 8616.183466 Delayed Quote.30.46%
NIKKEI 225 -0.08% 23391.86 Real-time Quote.16.69%
S&P 500 -0.11% 3132.52 Delayed Quote.24.96%
WTI 0.03% 59.04 Delayed Quote.29.85%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WTI
04:16aNEWS HIGHLIGHTS : Top Energy News of the Day
DJ
03:07aTrafigura's 2019 'knock-out' trading profits undermined by write-offs
RE
02:48aChevron Gas Assets Take $10 Billion Hit -- WSJ
DJ
02:48aWHAT'S NEWS : Business & Finance -- WSJ
DJ
02:48aExxon Is Cleared Of Fraud Allegation -- WSJ
DJ
02:10aEuropean diesel margins sag before new shipping fuel rules
RE
12:16aNEWS HIGHLIGHTS : Top Energy News of the Day
DJ
12/10China's Zhejiang Petrochemical launches mega reformer unit
RE
12/10Exxon Mobil scores win in New York climate change lawsuit
RE
12/10Chevron expects $10 billion-$11 billion charge in fourth quarter; plans asset..
RE
More news
Chart WTI
Duration : Period :
WTI Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WTI
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral