[ad_1]
Stocks fell slightly on Wall Street, causing the S & P 500 to fall for the fifth time in a row, as the Trump government imposed new tariffs, intensifying the trade war with China.
The benchmark index of the US stock market fell, mainly due to the decline in shares in the technology, energy and industry sectors.
Early on Friday, the administration increased tariffs, which rose from 10% to 25% of Chinese imports, to a value of about $ 200 billion a year. President Trump said the increase was the result of the Chinese authorities' attempt to "renegotiate" a pact to establish a truce in the trade war. 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, negating the hope that an agreement would be quickly reached.
Nonetheless, the Trump administration effectively delayed much of the tariff increase, saying it would only charge duties on goods leaving China as of Friday. This means that they will not already touch Chinese products on ships bound for the United States, although airlifted products are more immediately affected.
"Our basic scenario remains that the United States and China will eventually reach an agreement," said Mark Haefele, Global Investment Director of the Swiss bank UBS, in a research note. "The United States and China are both strongly encouraged to reach an agreement and we do not expect a complete breakdown of the negotiations."
Concern over the ongoing trade battle between the world's two largest economies has eclipsed the enthusiasm generated by Uber's commercial debut. The price of the carpooling company his bid on Thursday, which valued at more than 82 billion dollars.
Shares in China, which sometimes benefit from state-sponsored companies seeking to support the market, have risen sharply, but gains have been more moderate elsewhere in the world. Futures contracts allowing investors to bet on the performance of US stocks have indicated that Wall Street shares would open a little lower.
European markets were higher. The Dax in Germany rose by 0.9% and the CAC 40 in France by 0.6%. The FTSE 100 in London rose by 0.3%.
In China, the Shanghai Composite Index rose 3.1%, while the Shenzhen Composite Index rose 3.8%.
The Hang Seng index in Hong Kong rose 0.8%. In Japan, the Nikkei 225 index fell 0.3% after disappointing wage data. The Kospi index of South Korea increased by 0.3%.
[ad_2]
Source link