On Friday U.S. stocks extended losses with tech and energy shares leading the way lower in afternoon trade, as the spread of the COVID-19 epidemic from China to neighboring countries amplified worries about the impact on supply chains and global economic growth.
On Tuesday United Stocks stocks traded sharply higher Tuesday as investors weighed the implications of delayed results from Iowa’s presidential caucuses and new stimulus efforts by the People’s Bank of China, as it tries to combat the economic impact of a deadly Asian virus that has claimed hundreds of lives and infected more than 20,000 people.
On Wednesday United States President Donald Trump dangled the prospect of walking away from a new trade deal with China if it’s not to his liking, just as he cut short his summit with North Korea’s Kim Jong Un when the two sides failed to reach an agreement.
According to a new report on Tuesday, the President of United States Donald Trump will not agree to any new trade deal unless China agrees to make substantive changes to the way it does business.
China is beginning to flesh out details of a weekend tariff truce with the U.S., after days of vague Chinese statements and a barrage of comments from President Trump and other administration officials.
China and the U.S. agreed to a cease-fire in a trade battle that has shaken global markets, with the U.S. postponing plans to increase tariffs on $200 billion in Chinese goods and the two sides entering negotiations on other contentious issues.