Apple Inc on Wednesday took the rare step of cutting its quarterly sales forecast, with Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy has been dragged down by uncertainty around U.S.-China trade relations.
The U.S. Federal Reserve is expected to raise interest rates on Wednesday, but may cut the number of hikes it anticipates next year and signal an earlier end to its monetary tightening in the face of financial market volatility and rising recession fears.
U.S. President Donald Trump’s top diplomat promised on Tuesday a new democratic world order in which Washington will strengthen or jettison international agreements as it sees fit to stop “bad actors” such as Russia, China and Iran from gaining.
The United States expects China to take immediate action to cut tariffs on U.S. car imports and end intellectual property theft and forced technology transfers as the two countries move toward a broader trade deal, a White House official said on Monday.
Chinese state media welcomes break in trade war but warns there is ‘no magic wand’ that would fix relations immediately
Trump tweets China to cut tax on U.S.-made cars, revs up auto stocks
Asian markets were broadly higher on Monday after the U.S. and China reached a 90-day truce in a trade dispute that has dampened global growth and rattled investors worldwide.
Oil prices plunged 7 percent on Tuesday on persistent concerns of oversupply and weakening global demand, causing Wall Street stocks to reverse early gains that were driven by the resumption of trade talks between the United States and China.