London share prices PLUMMET amid US-China trade war fears — FTSE latest

Traders work on the floor at the New York Stock Exchange in New York City U.S

Beijing's decision to keep things vague, for now, may reflect a desire to avoid being seen as having capitulated under pressure - the sides have 90 days to reach a deal - or may be a hedge against Trump's unpredictability, analysts said.

President Donald Trump at a bilateral dinner meeting with President Xi Jinping of China during the Group of 20 summit at the Hyatt Palace Hotel in Buenos Aires, Argentina, Dec. 1, 2018. "We've never been close to this".

The Ministry said that the recent meeting of U.S. President Donald trump and Chinese President XI Jinping was successful.

Despite Mnuchin's earlier comments on President Trump leading trade negotiations with China, .

China also announced an array of punishments that could restrict companies' access to borrowing and state-funding support over intellectual-property theft.

Last week, BMW said it was considering building a second manufacturing plant in the United States that could produce engines and transmissions, drawing praise from Trump, who has made the revitalization of USA manufacturing a key pillar of his economic program.

"Small rays of light" such as Saturday's agreement between the two leaders "create tactical opportunities for investors", said Kerry Craig, global market strategist at JPMorgan Asset Management.

"President Xi and I want this deal to happen, and it probably will", Trump wrote on Twitter. For months, the two countries have engaged in tit-for-tat increases in tariffs on hundreds of billions of dollars of exports flowing between the two countries. "Financial markets are increasingly showing signs of fear of a recession". But they jumped Monday in response to Saturday's truce.

The Dow Jones Industrial Average shed 3.1% while the tech-dominated Nasdaq was nearly 4% down by the close.

Those omissions suggest Beijing doesn't recognize how important those demands are to Trump, said Nick Marro of the Economist Intelligence Unit.

In the meantime, the outlines of the agreement remain hazy and in some cases confusing.

U.S. Treasury Secretary Steven Mnuchin has made it clear there's only one person leading the trade negotiations with China.

Among the conflicting assertions that White House officials made was over whether China had actually agreed to drop its 40 percent tariffs on United States autos.

In brief statements following the meeting, the USA and China emphasized different results, with the split highlighting the wide gap they must overcome over the next three months. They intend to start purchasing agricultural product immediately.

"China's discussed these things with the US many times down through the years and the results have not been very good", he said.

State-run Chinese media has described the agreement very differently from how the Trump administration has. The 90-day clock starts January 1.

The outcome wasn't the result of a "significant change" by China, Louis Kuijs of Oxford Economics said in a report. Or it might illustrate China's weak commitment to the deal.

According to agreement, China agreed to buy a "very substantial" amount of agricultural products, industrial, energy and some others too from the U.S. in order to reduce the trade gap in-between countries, and also China agree to purchase farm products "immediately" from USA, the White House said. As such, companies with interests in U.S. "However, I will say this: President Xi has never been this involved".

Kevin Scott, who farms near Valley Springs, South Dakota, and serves on the American Soybean Association, said the news provides hope for farmers who are storing their crops while awaiting better prices. Instead, the two sides are to negotiate over US complaints about China's trade practices, notably that it has used predatory tactics to try to achieve supremacy in technology. Gauslow said. "There was nothing in writing, which scares me a little bit".

BMW used the opportunity "to explain in detail the extent of its footprint in the USA" and that the "mandate to talk about worldwide trade politics rests exclusively with the relevant political institutions", the company said in a statement. At the same time, the federation noted that the truce prolongs the uncertainty around trading with China.

"My expectation is that China will roll back those tariffs quickly", Kudlow said.

Related News:

  • Take to the skies in Fortnite Season 7!

    Take to the skies in Fortnite Season 7!

    It can boost, air brake, barrel roll, turn sharply, and has an automatic firing gun that has no ammo limit, but can overheat. That'll get you 100 tiers of Battle Pass excitement with even more cosmetics such as the brand new Fortnite weapon skins.
    Watch Premier League Game Online

    Watch Premier League Game Online

    Manchester United will host fourth-placed Arsenal , who have not lost a game since mid-August, at Old Trafford on Wednesday night. Befitting a game watched by Tyson Fury, this scrap of a match ended in a draw and plenty of bruises.
    United Kingdom  lawmakers just released a trove of Facebook emails

    United Kingdom lawmakers just released a trove of Facebook emails

    Westminster has published secret documents which indicate Facebook collected records of its users' phone calls and text messages. Zuckerberg in 2012 underestimated how much giving developers access to data could be a risk.
  • Indian singer Mika Singh arrested in Dubai for alleged sexual misconduct

    Indian singer Mika Singh arrested in Dubai for alleged sexual misconduct

    The Indian Ambassador to the UAE, Navdeep Singh Suri has reportedly told the media that Mika will be produced in Court today. Bollywood singer Mika Singh has been detained in Dubai after a Brazilian girl complained that he sent her obscene messages.
    President Trump, Predecessors Gather for George H. W. Bush’s State Funeral

    President Trump, Predecessors Gather for George H. W. Bush’s State Funeral

    Meacham recounted how comedian Dana Carvey once said that the key to doing a flawless impersonation of the 41st president was "Mr. Trump in turn has been effusive in his praise of Bush since his death Friday, and paid respects Monday night at the U.S.
    Origi: Late derby goal was one of my finest Liverpool moments

    Origi: Late derby goal was one of my finest Liverpool moments

    But Marco Silva introduced young winger Ademola Lookman off the Everton bench and his side's attacking threat instantly improved. The third instalment of derby day in the Premier League will see Liverpool welcome Everton to Anfield in the Merseyside Derby.
  • Duchess Kate copies Meghan's style

    Duchess Kate copies Meghan's style

    Kate seemed to be channeling her sister-in-law's style as she arrived in Cyprus wearing wide-legged pants , left. Prince William laughed with military personnel.
    Verizon, Samsung to release 5G smartphones in U.S

    Verizon, Samsung to release 5G smartphones in U.S

    The Galaxy S10+ is said to feature five cameras in total, including three lenses on the back and two on the front. This Infinity-O display will first come to the Galaxy A8s before it shows up on the Galaxy S10 flagship.
    OnePlus Will Have the First Snapdragon 855 Phone, Says CEO

    OnePlus Will Have the First Snapdragon 855 Phone, Says CEO

    During an event in Hawaii this week, Qualcomm and Samsung showed prototype 5G devices running on "live" networks. Sprint doesn't want to be left out of the game, and basically announced a partnership with a manufacturer.
  • Huawei founder's daughter arrested for violating US  sanctions on Iran

    Huawei founder's daughter arrested for violating US sanctions on Iran

    Justice Department spokesman Ian McLeod said Meng Wanzhou was detained in Vancouver, British Columbia, on Saturday. The Wall Street Journal reported earlier this year that US officials were investigating Huawei's ties to Iran .
    Trump ratchets up attacks on head of Russian Federation  probe

    Trump ratchets up attacks on head of Russian Federation probe

    The truth is very bad for their mission!' the president wrote. As Alisyn Camerota remarked on how "striking" it is that Mr.
    Epic Games to take on Steam with its own digital games store

    Epic Games to take on Steam with its own digital games store

    In another grassroots-building move, developers will be able to allow referral purchases of their games through the Epic Store. As a developer ourselves, we have always wanted a platform with great economics that connects us directly with our players .


Most liked

Game of Thrones final season teaser trailer released
It's been quite a ride through Westeros over the past seven seasons, but next year will mark the final season of Game of Thrones . This is poetic, harking back to the title of the novel series the show is based on, A Song of Ice and Fire .

‘I’m so ashamed!’ Offset’s alleged mistress apologizes to Cardi B
Cuban finally ends by hilariously trolling Offset and his grammar by saying, "I never went to new or leave". Cardi B is seen arriving Queens County Criminal Courts Building on December 7, 2018 in New York City.

OneBlood searches for extremely rare blood to save two-year-old Florida girl
Donors must reach out to OneBlood in advance to ensure the additional compatibility testing is performed. And even within this population, fewer than 4 percent of people are missing the antigen.

Sandra Oh and Andy Samberg Will Host the 2019 Golden Globes
Even though she's been there and done that with the Globes, she's still positioned to make history if she wins again. Samberg hosted the Emmy Awards in 2015, but it will be Oh's first time hosting a major awards show.

Solemn public pays tribute to Bush before dawn in Rotunda
In this October 18, 2005, file photo, a new locomotive numbered 4141 in honour of the 41st president, George H.W. Bush's son Jeb Bush expressed his appreciation for Dole's tribute on Twitter , writing, " Just incredible".

China and U.S. greenhouse gas levels to new highs
The U.S. accounts for 15 percent of emissions. "With this year's growth in emissions, it looks like the peak is not yet in sight". Globally, coal-fired power accounts for 40% of Carbon dioxide emissions, and more than two-fifths of the world's electricity.

O2 network down across the United Kingdom - can you claim compensation?
According to two people directly involved, an issue relating to software in the systems provided by Ericsson has been identified. The network outage isn't just forcing British mobile users to put down their phones and talk to one another.

China confident it can clinch USA trade pact, Trump demands 'real deal'
China has said it will immediately implement measures agreed under a trade war "truce" with the US. The two countries have now agreed to a 90-day truce to work out a broader trade deal.

Here's the full list of the 8 XFL cities and their venues
Vince McMahon's XFL announced that the following cities will host teams and also announced the stadiums the teams will play in . XFL domain names for several other cities have reportedly been registered, hinting at possible future expansion.

Trump Threatens to Kill NAFTA - Again
Department of Agriculture Secretary Sonny Perdue was pleased an agreement had been reached. The leaders of Mexico, the United States and Canada sign the "new" NAFTA in Argentina.

Qualcomm rules out another bid for NXP
Qualcomm has a large presence in China so they were not left with any real options except to cancel the deal. The American and Chinese presidents met during the G20 event in Argentina to cover an array of thorny issues.

Priyanka Chopra and Nick Jonas reveal new wedding photos - with two dresses
She held a bouquet of tuberoses, which she said was her favorite flower, and a string quartet played during the ceremony. Looking at the wedding pictures is what we all love and we hope the couple will share it as soon as possible.

Late former president Bush flown back to USA capital for final salute
Early on Monday, Bush's casket was flown from Houston to Washington , D.C., where his body will lie in state until Wednesday. A humble hero of World War II, Bush was just 20 when he survived being shot down during a bombing run over a Japanese island.

Iran vows to continue missile tests following US allegation
Insisting it would only use missiles for defensive purposes, Iran has repeatedly rejected negotiations over its missile program. The Iran nuclear deal , although highly controversial, was considered one of the Obama administration's major legacies.

Boy wonder: Seven-year-old earns £17m reviewing toys on YouTube
As he is still a child, 15% of Ryan's earnings are put into a bank account that he can only access when he becomes a legal adult. His channel, which involves him opening toys and then playing with them, has more than 17 million subscribers.