This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2019/05/10/business/global-markets.html
The article has changed 12 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| U.S.-China Trade War Worsens, but Global Markets Find a Footing | U.S.-China Trade War Worsens, but Global Markets Find a Footing |
| (32 minutes later) | |
| Global markets were largely stable on Friday just hours after President Trump escalated his trade war with China. | Global markets were largely stable on Friday just hours after President Trump escalated his trade war with China. |
| Shares in China, which sometimes gets a lift from state-run companies looking to buoy the market, rose sharply but gains elsewhere in the world were more muted. Stocks in the United States opened slightly lower. | |
| Early Friday, Mr. Trump raised tariffs to 25 percent from 10 percent on Chinese imports that are worth about $200 billion a year. He said the increase came in response to Chinese officials attempting to “renegotiate” a pact aimed at calling a trade war truce. China said it would respond with unspecified countermeasures. | Early Friday, Mr. Trump raised tariffs to 25 percent from 10 percent on Chinese imports that are worth about $200 billion a year. He said the increase came in response to Chinese officials attempting to “renegotiate” a pact aimed at calling a trade war truce. China said it would respond with unspecified countermeasures. |
| Mr. Trump also said on Twitter, that “there is absolutely no need to rush,” on a trade deal, dampening hopes that an agreement would be reached quickly. | Mr. Trump also said on Twitter, that “there is absolutely no need to rush,” on a trade deal, dampening hopes that an agreement would be reached quickly. |
| Still, the Trump administration effectively delayed the full brunt of the tariff increase, specifying that it would collect the tariffs only on goods that leave China starting on Friday. That means they will not hit Chinese goods already on ships destined for the United States, though they goods that are flown in will be more immediately affected. | Still, the Trump administration effectively delayed the full brunt of the tariff increase, specifying that it would collect the tariffs only on goods that leave China starting on Friday. That means they will not hit Chinese goods already on ships destined for the United States, though they goods that are flown in will be more immediately affected. |
| “Our base case remains that the U.S. and China will eventually reach some kind of accord,” Mark Haefele, global chief investment officer for the Swiss bank UBS, said in a research note. “Both the U.S. and China have strong incentives to reach a deal and we do not expect a complete breakdown in negotiations.” | “Our base case remains that the U.S. and China will eventually reach some kind of accord,” Mark Haefele, global chief investment officer for the Swiss bank UBS, said in a research note. “Both the U.S. and China have strong incentives to reach a deal and we do not expect a complete breakdown in negotiations.” |
| European markets opened modestly higher. The Dax in Germany was up 0.6 percent and the CAC 40 in France was 0.4 percent higher. The FTSE 100 in London rose 0.3 percent. | European markets opened modestly higher. The Dax in Germany was up 0.6 percent and the CAC 40 in France was 0.4 percent higher. The FTSE 100 in London rose 0.3 percent. |
| In China, the Shanghai Composite Index rose 3.1 percent, while the Shenzhen Composite Index rose 3.8 percent. | In China, the Shanghai Composite Index rose 3.1 percent, while the Shenzhen Composite Index rose 3.8 percent. |
| The Hang Seng Index in Hong Kong rose 0.8 percent. In Japan, the Nikkei 225 index fell 0.3 percent after disappointing wage data there. South Korea’s Kospi index rose 0.3 percent. | The Hang Seng Index in Hong Kong rose 0.8 percent. In Japan, the Nikkei 225 index fell 0.3 percent after disappointing wage data there. South Korea’s Kospi index rose 0.3 percent. |