Saturday, March 25, 2023
  • About us
    • Write for us
    • Disclaimer
    • Terms of use
    • Privacy Policy
  • RSS Feeds
  • Advertise with us
  • Contact us
DefenceTalk
  • Home
  • Defense News
    • Defense & Geopolitics News
    • War Conflicts News
    • Army News
    • Air Force News
    • Navy News
    • Missiles Systems News
    • Nuclear Weapons
    • Defense Technology
    • Cybersecurity News
  • Military Photos
  • Defense Forum
  • Military Videos
  • Military Weapon Systems
    • Weapon Systems
    • Reports
No Result
View All Result
  • Home
  • Defense News
    • Defense & Geopolitics News
    • War Conflicts News
    • Army News
    • Air Force News
    • Navy News
    • Missiles Systems News
    • Nuclear Weapons
    • Defense Technology
    • Cybersecurity News
  • Military Photos
  • Defense Forum
  • Military Videos
  • Military Weapon Systems
    • Weapon Systems
    • Reports
No Result
View All Result
DefenceTalk
No Result
View All Result

Global stocks mixed amid lingering trade war fears

by Agence France-Presse
July 24, 2018
in Defense Geopolitics News
2 min read
0
Global stocks mixed amid lingering trade war fears
14
VIEWS

World stock markets were a mixed bag on Wednesday as some investors fished for bargains and others gave in to anxiety over simmering trade tensions between China and the United States.

London and Frankfurt edged higher, mirroring earlier gains in Asia, while Paris was down at the European close.

Wall Street stocks were also mixed, with the Nasdaq jumping to a fresh record close and the Dow dipping.

Large tech companies such as Facebook and Microsoft scored solid gains, while Twenty-First Century Fox surged 7.5 percent after Disney lifted its bid for key assets of the media giant in the latest move in a burgeoning bidding war with Comcast.

Analysts said many market players could not get themselves to believe that US President Donald Trump would take the world into an all-out trade battle.

“The trade tensions will fade somewhat in coming months either because Trump finally strikes some trade deals with China and possibly even with the big EU or because markets and businesses get used to the noise,” said Holger Schmieding at Berenberg.

“On balance, we remain cautiously optimistic that Trump will either go for deals or at least not escalate tensions further and further throughout the summer,” he said.

But analysts also warned that fresh retaliatory moves could trigger another markets dive.

“Global equity bears (sellers) could transform the current rebound into a classical dead cat bounce if trade tensions between the United States and China continue to escalate,” predicted Lukman Otunuga, at FXTM.

European Trade Commissioner Cecilia Malmstrom said retaliatory tariffs against US goods such as blue jeans and motorcycles would go into effect Friday in response to US tariffs on imported aluminum and steel.

“We did not want to be in this position. However, the unilateral and unjustified decision of the US to impose steel and aluminum tariffs on the EU means that we are left with no other choice,” Malmstrom said in a statement on Wednesday.

US Commerce Secretary Wilbur Ross was grilled by US Senators over Trump’s trade policies, with Republicans such as Utah’s Orrin Hatch and Iowa’s Chuck Grassley balking at the risk to US industries and consumers.

“You are putting American jobs at risk, and you are destroying markets, both foreign and domestic, for American businesses of all types, sorts and sizes,” Hatch said.

Ross countered that in Trump’s view, the United States was already the loser in a long-standing trade war and was only now beginning to fight back.

OPEC focus
Eyes are turning to OPEC’s crucial meeting as Saudi Arabia pushes, along with non-member Russia, to ease an output ceiling that has supported oil prices for 18 months.

The two major producers are facing stiff opposition at the June 22-23 gathering from nations that have benefited from the resulting higher revenues.

Saudi Arabia’s energy minister Khalid al-Falih said he was convinced OPEC members would “do the right thing” and agree to ease an oil production cap this week despite strong resistance from arch foe Iran.

Tags: economystockstradetrade warwar
Previous Post

Australian P-8 Poseidon Fires First Harpoon

Next Post

No military cooperation with Russia in Syria for now: Mattis

Related Posts

Urban warfare ‘nightmare’ looms if Russia enters Ukraine cities

NATO rejects Russian complaints on UK uranium ammo

March 24, 2023

NATO chief Jens Stoltenberg on Thursday dismissed Russian complaints about Britain's announcement that it will send Ukraine ammunition containing depleted...

Russian navy in show of strength with 26 new ships this year

Russian navy ‘repelled’ drone attack on Crimea port

March 23, 2023

The Russian navy "repelled" a drone attack on the port of Sevastopol in Moscow-annexed Crimea early Wednesday, officials said. Defence...

Next Post
Artificial Intelligence Poses Questions For Nature Of War: Jim Mattis

No military cooperation with Russia in Syria for now: Mattis

Latest Defense News

Ahead of talks, North Korea says fired ‘new’ sub-launched missile

North Korea says it tested new underwater nuclear attack ‘drone’

March 24, 2023
China Naval Modernization: Implications for US Navy

Chinese military says ‘warned’ US warship to leave S. China Sea

March 24, 2023
Urban warfare ‘nightmare’ looms if Russia enters Ukraine cities

NATO rejects Russian complaints on UK uranium ammo

March 24, 2023
Russian navy in show of strength with 26 new ships this year

Russian navy ‘repelled’ drone attack on Crimea port

March 23, 2023
Officials provide details on building the Space Force, its structure, and operating imperatives

Reagan’s ‘Star Wars’ at 40: Battle of the satellites

March 23, 2023
China will ‘never commit to abandoning the use of force’ on Taiwan: Xi

China diplomatic offensive lays down new challenge for US

March 22, 2023

Defense Forum Discussions

  • NATO
  • China - Geostrategic & Geopolitical.
  • F-18 Hornet Cobra Warrior mission
  • Taiwan alternative options
  • Brazilian Naval Strength
  • US Navy News and updates
  • Australian Army Discussions and Updates
  • The Russian-Ukrainian War Thread
  • Royal Australian Navy Discussions and Updates 2.0
  • USAF News and Discussion
DefenceTalk

© 2003-2020 DefenceTalk.com

Navigate Site

  • Defence Forum
  • Military Photos
  • RSS Feeds
  • About us
  • Advertise with us
  • Contact us

Follow Us

No Result
View All Result
  • Home
  • Defense News
    • Defense & Geopolitics News
    • War Conflicts News
    • Army News
    • Air Force News
    • Navy News
    • Missiles Systems News
    • Nuclear Weapons
    • Defense Technology
    • Cybersecurity News
  • Military Photos
  • Defense Forum
  • Military Videos
  • Military Weapon Systems
    • Weapon Systems
    • Reports

© 2003-2020 DefenceTalk.com