Markets plunge after Trump threatens new China tariff hike on WTOP| BANGKOK (AP) — Shares and oil prices have tumbled after President Donald Trump jolted markets with a threat to raise more tariffs on imports from China, spooking investors who had been expecting good news this week on trade. The…
BANGKOK (AP) — Shares and oil prices have tumbled after President Donald Trump jolted markets with a threat to raise more tariffs on imports from China, spooking investors who had been expecting good news this week on trade.
The Shanghai Composite index plunged 6.5% to 2,877.71, and the Hang Seng in Hong Kong sank 3.3% to 29,089.77. The future contract for the Dow Jones Industrial Average fell 1.7% to 26,042.00, while that for the S&P 500 gave up 1.6% to 2,900.10.
Trump’s comments in tweets Sunday came as a Chinese delegation was due to resume talks in Washington on Wednesday aimed at resolving a tariffs battle that has rattled world markets.
The Wall Street Journal, citing unidentified sources, said China’s government was considering canceling this week’s talks.
