China-US tariff concerns stalk markets once again

US President Donald Trump and China's President Xi Jinping meet business leaders in Beijing China on Nov 9 2017

Trump is scheduled to meet the North Korean leader Kim Jong Un in Vietnam during a denuclearization summit and then he expected that he could schedule his meeting with Xi on the same trip.

In Asia, Japan's Nikkei 225 was the biggest loser, plummeting 1.95 percent by 1:42 p.m. HK/SIN on Friday.

While the USA has said it is a hard deadline for the tariffs, Mr Trump has also suggested he could agree to extend negotiations beyond the month's end if progress is made. On Thursday (February 7th), while being asked by a reporter whether Trump would like to meet China's Xi before the trade truce, Tramp said "no", voicing an intransigent air, which had flawlessly added further strains to the concerns related to trade conflict. Hong Kong's Hang Seng Index saw a 0.50 percent decline, and Australia's ASX 200 was down 0.34 percent.

The United States and China have been engaged in a trade war since Trump announced last June that $50 billion worth of Chinese goods would be subject to 25 percent tariffs in a bid to fix the US-Chinese trade deficit. The trade dispute between the world's two largest economies, which has cooled in recent months, has weighed on the outlook of businesses and the global economy. Hopes faded away that the two countries are moving forward to a deal before new tariffs on Chinese imports are added after the truce deadline.

Stocks fell in the Philippines, Indonesia and Singapore but rose in Malaysia.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are leading a group of administration officials headed to Beijing next week as part of the trade talks.

The negative mood sweeping across financial markets late in the trading week continues to highlight how investor sentiment remains extremely sensitive to any changes in the narrative with US-China trade developments.

WALL STREET: Stocks closed lower on Thursday following a sell-off by technology companies, health care stocks and banks. The broad S&P 500 index shed 0.9 percent to 2,706.05.

In New York, the Dow Jones industrial average was down 266.10 points at 24,903.43.

The news that the two leaders were now unlikely to meet spurred a sharp selloff in U.S. stocks, dashing the optimism that had been building that the countries were progressing towards a deal before tariffs on Chinese imports rise to 25 percent after the March 1 deadline.

CURRENCIES: The euro was flat at $1.1337 while the dollar was steady at 109.79 yen.

Related news:

Hot News

isis-killer-beheading-video-story-top AASU activists Burn PM Modi’s Effigy in Guwahati
Feb 11, 2019 - 05:44
The Chief Minister also continued his outburst at the Prime Minister, accusing him of ruining the country and all the systems. He said Karnataka chief minister H D Kumaraswamy had become a "punching bag".

isis-killer-beheading-video-story-top Former NFL RB Trent Richardson rushes for two TDs in AAF debut
Feb 11, 2019 - 05:42
After the way that the AAF got started on Saturday, there is real hype about the new football league taking the world by storm. Keep an eye on these key differences from the National Football League , as chronicled last week by The Post's Matt Bonesteel.

isis-killer-beheading-video-story-top Sharon Osbourne supports Ariana Grande snubbing the Grammys
Feb 10, 2019 - 08:15
In a separate tweet , Grande uploaded a screenshot of Ehrlrich's quote from the AP story to give fans some context. Ariana Grande is setting the record straight about her disagreement with the Recording Academy.

isis-killer-beheading-video-story-top Grizzlies offers fond farewell to Gasol
Feb 10, 2019 - 06:17
Anthony Davis is averaging 29.3 points and 13.3 rebounds while Jrue Holiday is averaging 20.9 points and eight assists. The 34-year-old center leaves the Grizzlies as the all-time leader in points, blocks, and minutes played.

isis-killer-beheading-video-story-top Hernia takes Whittaker out of fight vs. Gastelum at UFC 234
Feb 10, 2019 - 05:39
The hype surrounding the Adesanya-Silva fight has been arguably just as big as the Whittaker-Gastelum showdown, if not bigger. It's a huge blow to Whittaker, 28, who was forced to pull out of a title defense on home soil in February 2018.

isis-killer-beheading-video-story-top Food fan Trump in 'very good health'
Feb 10, 2019 - 05:07
Last year, doctors checked the president's eyes; ears, nose and throat; heart; lungs; gastrointestinal tract; skin; and teeth. Conley said Trump did not undergo any procedures requiring sedation or anesthesia, meaning he did not have a colonoscopy.

isis-killer-beheading-video-story-top Virginia Lieutenant Governor Faces Second Sexual Misconduct Charge
Feb 10, 2019 - 03:32
The governor said he was not the man in the picture, but admitted to wearing blackface for a Michael Jackson costume. And he said given the national political climate and the country's racist legacy, everyone deserves a second chance.

isis-killer-beheading-video-story-top Sixers trade Fultz to Magic
Feb 10, 2019 - 01:42
The Philadelphia 76ers traded away Markelle Fultz on Thursday , marking an end to the former No. 1 draft pick's time with the organization.

isis-killer-beheading-video-story-top Saudi crown prince reportedly threatened to use 'a bullet' on Khashoggi
Feb 09, 2019 - 08:29
Khashoggi was murdered on October 2 inside the Saudi consulate in Istanbul , where he went to collect documents to marry Cengiz. The fact Khashoggi's body still has not been found is causing "even greater suffering" to his loved ones, the report adds.

isis-killer-beheading-video-story-top Arsenal are outsiders in chase for Champions League, says Unai Emery
Feb 09, 2019 - 08:14
We are going to play Tottenham in one month but now we need to think first about the next games, the next teams'. Unai Emery admits Arsenal will find it hard to claim the final Champions League spot in the Premier League .

isis-killer-beheading-video-story-top Apex Legends becomes a smash hit: 10 million players in 3 days
Feb 09, 2019 - 05:26
The "Age of the Battle Royale" has yet to come to an end, as seen with the recent release and popularity of Apex Legends . This number nearly tripled within the day, garnering a total of over 2.5 million unique players in just 24 hours.

isis-killer-beheading-video-story-top Real Madrid Ready To Offer Two Players In £100m Bid For Hazard
Feb 09, 2019 - 03:43
Philippe Coutinho is reportedly being considered for a summer switch to join Premier League side Chelsea should Eden Hazard leaves for Real Madrid in the summer.

isis-killer-beheading-video-story-top Bucks’ Giannis selects teammate Middleton for NBA All-Star roster
Feb 08, 2019 - 10:28
They'll be joined in the Team LeBron starting five by Boston's Kyrie Irving , Toronto's Kawhi Leonard and Houston's James Harden. James said he took Aldridge even though he knows Spurs coach Gregg Popovich will have conditions.

isis-killer-beheading-video-story-top Amazon's Bezos says National Enquirer tried to blackmail him over 'intimate photos'
Feb 08, 2019 - 10:24
Bezos said the statement AMI was proposing was false and described the offer as an "extortionate proposal". A lawyer for American Media did not immediately respond to a call seeking comment.

isis-killer-beheading-video-story-top Measles outbreak: 50 confirmed cases
Feb 08, 2019 - 10:22
A hallmark of measles is a rash that begins as flat, red spots on the face and spreads down the neck to the rest of the body. The three Harris County patients are two boys younger than 2 and a woman who is between 25 and 35 years old.