Market sentiment fragile as U.S.-China talks and Brexit deals fade hopes
European stocks steadied on Wednesday but market sentiment remained fragile as negotiations for a Brexit withdrawal deal seemed all but dead. The sentiment carried on in addition of the U.S.-China trade dispute.
Markets mostly blame their sentiment on concerns that the U.S.-China conflict over trade and foreign policy is nowhere near a resolution and is increasingly damaging the global economy.
Washington and Beijing have been engaged in year-long dispute which has now expanded beyond trade policy. Hopes that the two sides could reach a truce this week faded after U.S. President Donald Trump introduced visa restrictions on Chinese officials and blacklisted several Chinese companies.
A U.S. official said that high-level talks with China would take place on Thursday and Friday. However, Trump stated that tariffs on Chinese imports will rise on October 15 if no progress was made in the negotiations.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...