US President Donald Trump has threatened to impose tariffs on an additional $200 billion worth of Chinese goods in a escalating trade row with Beijing, which on Tuesday accused Washington of "blackmail" and warned it would "strike back hard".
The rhetoric weighed on Chinese stocks on Tuesday, with the Shanghai Composite Index plunging to a two-year low and the yuan coming under pressure. China's Commerce Ministry has already responded, saying they will adopt counter measures.
Beijing matched that total with a tax on US goods. The first round of penalties announced by both nations is set to take effect on July 6. (Seipi), the largest organization of foreign and Filipino electronics companies in the Philippines, concedes that the country's $33-billion electronics exports, which yearly account for at least half of outbound goods, would be severely affected by a US-China trade war. Beijing said it would respond with "comprehensive measures" if that happens. Those tariffs were matched by China's threat to penalize on USA exports, a move that drew the president's ire.
Those concerns saw European bourses start the week in the red, after Asian shares fell early today to a 2-1/2 week low. Boeing and Caterpillar fell more than 3% apiece.
The immediate fallout from the dispute was limited in currency markets although the escalation appeared to encourage some risk aversion as the safe haven Japanese yen recovered from three week lows against the dollar.
The contribution of the Chinese factories in this process is estimated to be only 3.6% of the shipping price, yet USA trade statistics attribute 100% of the value of imported iPhones to China and so hugely overstate the size of the U.S.
"The focus shifts from central banks back to trade", observed Craig Erlam, senior market analyst at Oanda trading group.
The battle between Trump and Beijing has kicked into high gear over the past week. China immediately promised to retaliate.
Shares of large USA companies with significant overseas business were hit especially hard. The contract lost $1.83 to settle at $65.06 per barrel on Friday.
The dollar index rose 0.01 percent, with the euro up 0.07 percent to $1.1615.
CURRENCIES: The dollar inched down to 110.47 yen from 110.62 in late trading Friday.
Steel companies also took sharp losses.
Atletico Madrid Announce Thomas Lemar Signing The Frenchman has scored 112 goals and assisted a further 40 strikes for the club in 209 games for the Rojiblancos so far. But now, that has been quashed, as the Europa League winners have managed to keep him at the club.
Gaming Disorder is a real addiction insists the WHO He tells CNN that many actually use gaming as a coping mechanism for other conditions such as depression or anxiety. It certainly looks like the disorder is being described by people who are not entirely familiar with video games .
US long-dated Treasury yields were volatile after a hectic week when the Federal Reserve struck an upbeat tone on the USA economy.
USA stocks are mostly higher Wednesday as technology and media companies lead a recovery from the turbulent trading seen the day before.
In London, shares in British engines maker Rolls-Royce soared almost 10 percent. Other media companies are rallying as investors hope for more deals. The yield on the 10-year Treasury note fell to 2.88 percent from 2.92 percent. -Chinese dispute but share the complaints of their American counterparts about market barriers and unfair regulation.
The tariffs would start to slow US growth, economists warn. Markets in China and Hong Kong were closed for a holiday.
The president also said Canada "treats us horribly". Brent crude, used to price global oils, gained 66 cents to $74.10 in London.
USA crude futures dropped 1.6 percent to $63.99 per barrel, briefly touching their lowest levels since April 10.
There were still a few gainers to be found on Wall Street.
Investors sought safer investments, such as high-dividend companies like utilities and companies that make and sell household goods. American Electric Power rose 1.7 percent to $66.60 and Kimberly-Clark gained 1.8 percent to $102.57. Other companies say the approval process for licenses has slowed down. The service will cost $4.99 and deliveries will be made in one or two days.
Within the United States equity market, investors have targeted smaller companies with a domestic focus.
The Dow slid 42.41, or 0.2 percent, to 24,657.80. The Russell is up nearly 10 percent this year while the S&P has risen 3 percent and the Dow is flat.
Tariff worries dragged FedEx Corp down 2.0 percent.
Israeli Prime Minister Benjamin Netanyahu's wife was indicted Thursday for alleged "systematic fraud", according to Haaretz . Sara Netanyahu has long faced allegations of abusive behavior and living extravagantly.
The arrest comes just a week after German prosecutors fined Volkswagen $1.2 billion, Esme Nicholson reports for NPR from Berlin. According to the Justice Department, Winterkorn is believed to be in Germany, where it is unlikely that he will be extradited.
In the Champions League final, I played against Cristiano Ronaldo, two weeks ago it was [Brazil's] Neymar, now it's Messi. FIFA World Cup 2018 Argentina vs Croatia football match will take place on Thursday, April 21, 2018.
I'm excited (to play Murray), obviously one of my better mates on tour". "So I think I'm getting better now". Andy Murray , Kyle Edmund, Dan Evans, and Novak Djokovic , are all due in first round action on Tuesday.
The new cover features an iconic photo captured by Getty Images Pulitzer Prize-winning photograhper John Moore . Children and their parents will now be detained together until their criminal proceedings come to an end.
NXT UK will showcase wrestling's top talent in the United Kingdom and Ireland, with three championship titles being up for grabs. The shows will undoubtedly revolve around the WWE UK core of Pete Dunne , Tyler Bate , Trent Seven, Mark Andrews and Wolfgang.
Prince Louis will be christened by the Archbishop of Canterbury, Justin Welby, on Monday 9 July, Kensington Palace has announced. James, Viscount Severn, was the first baby to wear the new outfit at his christening in 2008.
Based on the indictment, he maintained contact with Israeli citizens in the defense, security and diplomatic sectors. Following his service, he studied medicine at Ben-Gurion University of the Negev and became a medical doctor.
Then they'll go home and tell their constituents the immigration system is a mess and we absolutely have to do something about it. Mark Warner, D-Virginia, said. "Getting rid of the Flores Settlement is the quickest way to solve the problem", Krikorian said.
Mexico retaliated against the move two weeks ago while Canada said it would place tariffs on U-S exports from July the first. Mr Trump said the global oversupply of those metals - driven by China - threated American steel and aluminium producers.
France vs Peru - Preview, Live Match | 21 Jun 2018
We are obviously not going to be able to control France all the time but we want to develop our style of play. The World Cup Group C match between France and Peru will be broadcast live on Fox Sports 1.
Microsoft rolls out redesigned news app on Android
For those who will use it, let us know how it compares to other news aggregation apps like Google News, Flipboard, etc. The app was in need of some updates, and Microsoft has provided them by completely rebuilding it.
Mars to make closest approach this summer
The fortunate son " The storm is one of the most intense ever observed on the Red Planet", NASA said in a statement last week. Sky enthusiasts will be out in the coming weeks as experts say Mars is set to be the brightest it has been in over a decade.
Donald Trump signs order to end family separations
The inaction sparked global outrage, including criticism from Pope Francis and opposition from world leaders. Mr Sessions announced a "zero-tolerance" policy to criminally charge and jail undocumented border crossers.
Raheem Sterling Dele Alli out of England vs. Panama
The notes also seemed to suggest Dele Alli would not recover in time for the match having sustained a thigh problem in the opener. Which team are you supporting in the 2018 World Cup? England face Belgium in their final group game on June 28.
Instagram Just Expanded Into 1 Hour Videos - Introducing IGTV
The difference between Instagram and IGTV , however, is that the latter pushes vertical videos only and can last up to an hour. To promote this, Instagram is likely to start a monetising platform for the creators, potentially including ad revenue shares.
Pro-wrestling legend Vader dead at 63
He famously feuded with fellow superstars including Michael "Shawn Michaels " Hickenbottom and Mark "The Undertaker " Calaway. At The Great American Bash event in July 1992, White defeated rival Sting to capture the WCW World Heavyweight Championship.
FPJ's dream XI predictions for Iran and Spain; Live blog
But Iran refused to buckle, Carlos Queiroz's men coming close in the final minutes when midfielder Mehdi Taremi headed just over. Costa was accused of standing on the foot of Iran's Ali Beiranvand. "In the first half they were provoking us all the time".