Connect with us

Popular World News

Wall Street Rebounds But U.S.-China Trade Worries, Fed Concerns Linger By

Wall Street Rebounds But U.S.-China Trade Worries, Fed Concerns Linger By


Wall Street Rebounds But U.S.-China Trade Worries, Fed Concerns Linger By


By Jesse Cohen – U.S. stock futures rallied on Tuesday, one day after Wall Street’s major indices suffered their worst sell-off of the year as trade war tensions between China and the U.S. rattled markets.

The blue-chip indicated an opening gain of 250 points, or about 1%, by 8:00AM ET (1200 GMT), the climbed 27 points, or nearly 1%, while the tech-heavy jumped 87 points, or 1.2%.

Wall Street saw its on Monday, with the tumbling 3%, amid an escalation in the U.S.-China trade war.

The index has fallen for six consecutive sessions leading into Tuesday and is about 6% below its record closing high on July 26.

The sell-off began last week when struck a more hawkish tone than expected at the U.S. central bank’s post-meeting press conference on July 31 after he failed to signal a series of rate cuts.

Markets were then whipsawed by U.S. President Donald Trump, who on Friday shockingly announced fresh tariffs on an additional $300 billion in Chinese goods, starting on September 1.

Market reaction became even more negative on Monday, when Chinese authorities let the yuan break past the symbolic 7-per-dollar level to reach its weakest level since the 2008 Global Financial Crisis.

Several investors viewed the move in the Chinese currency as a direct response to Trump’s latest tariff threat.

That prompted Washington to label China a for the first time since 1994, sharply escalating the ongoing dispute between the world’s two largest economies.

To see more of’s weekly comics, visit:

Reuters contributed to this report

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Continue Reading
You may also like...
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


To Top
error: Content is protected !!