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On Tuesday, Wall Street was braced for starting lower because renewed fears over a prolonged trade conflict China and America put pressure on investor sentiment.
China’s Vice Premier Liu He is going to visit America this week for trade negotiations, Beijing informed on Tuesday, thus playing down an expected escalation in tensions after American leader vowed to slap new levies.
On Sunday, American President told that the higher levies would come into effect on Friday if his country fails to make a deal with China that provoked a global sell-off in stocks and sparked worries of a deceleration in global surge.
As a matter of fact, tariff-sensitive Boeing Co headed south by about 1.2%, while CaterpillarInc inched down by 1.1%. Additionally, Boeing stocks were also suppressed by the news that Barclays was downgraded to "equal weight".
Trade tensions also sent crude prices down and stopped a recent leap that powered the S&P 500 as well as the Nasdaq to record maximums. Apparently, the benchmark index is about 1% away from its all-time maximum of 2,954.13.
Contributing to the downbeat sentiment, the European Commission told Italy's enormous debt is anticipated to keep soaring in 2019 and also next year as the country's surge is still sluggish.
ET, Dow e-minis slumped by 0.6%. As for S&P 500 e-minis, they decreased by 0.65%, while Nasdaq 100 e-minis headed south by 0.79%.
Besides this, crude majors Exxon Mobil Corp inched down by 0.5%, while Chevron Corp headed south by 0.3%.
American International Group Inc headed north by 4.8% after the insurer posted a quarterly gain that blew past hopes and also reported its first underwriting revenue since the financial downtime.
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict…
On Tuesday, another US-China tariff conflict escalation put pressure on Asian stocks, although remarks from American leader that he expects trade talks to be successful backed market sentiment…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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