Trump's tariff war with China and the recent record floods could lead to a farm crisis on par to the 1980 s. U.S. stocks have now fallen for a third consecutive week, and registered this year's biggest one-day fall this week, as President Trump's tariff war with China has taken its toll on economies from Asia to Europe and the U.S., including the American farmer, but the White House is refusing to accept responsibility. "This is basically the Federal Reserve's problem," White House...
China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies and support a slowing economy that has been hurt by a trade war with the United States, Reuters reported. The People's Bank of China said it will improve the mechanism used to establish the loan prime rate from this month, in a move to further lower real interest rates for companies as part of broader market reforms. Analysts say the move, which came after data that...
With all eyes on U.S.-China trade, these macro risks are underexamined. U.S. equity investors have had plenty to worry about in August, with an escalating U.S.-China trade spat and a brief inversion of a key yield spread helping to send stocks to their worst performance in the first half of a month in 2019.. The Dow Jones Industrial Averageis down 3.7% on a month-to-date basis, the S&P 500 has fallen 3.1% and the Nasdaq Composite indexhas lost 3.4%.
An export-ban reprieve ends next week. The chances for a swift and satisfactory conclusion to the U.S.-China trade standoff have fallen in recent weeks, and equity analysts at Goldman Sachs are warning that the conflict could escalate further next week, when a short-term exemption that allowed U.S. firms to sell certain products and services to Chinese telecom firm Huawei will expire. "During the past week, the ongoing trade dispute between the U.S. and China appears to have...
Indian authorities eased restrictions on movement and restored landline telephone links in some parts of Kashmir on Saturday, the biggest relaxation in a crippling lockdown since New Delhi announced it was removing the region's special status on Aug. 5. The moves came even as there were celebrations and protests by Kashmiris opposed to the Indian policy in Srinagar on Friday night.
BEIJING--China's central bank on Saturday unveiled a long-awaited reform to its interest-rate mechanism, a move aimed at reducing financing costs for businesses struggling with a cooling economy. The People's Bank of China said in a statement Saturday that it would replace existing benchmark interest rates with the Loan Prime Rate, which is based on real-world bank lending prices, as a reference for banks in pricing new loans. The move, which had been previewed in remarks by...
By Corrie Driebusch and Avantika Chilkoti. U.S. stocks climbed for a second consecutive session Friday but remain on track for modest weekly losses as investors continue to parse signs of slowing economic growth. Positive developments around trade and reassurances of extra stimulus from central bakers buoyed markets, which were rattled earlier this week after weak data out of Germany and China exacerbated fears of a potential recession.
Gold futures fell on Friday, but posted a gain for the week--their third in row. "Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., uncertainty regarding U.S./ China trade policy and political unrest in Hong Kong," said Rob Haworth, senior investment strategist at U.S. However, "with bonds and gold overbought and bullish speculative positions at relative extremes last week... gold may be due for a near-term pause," he...
Consumer sentiment index drops to 92.1 in August from 98.4. The numbers: A measure of consumer confidence fell in August to the lowest level since the start of the year, reflecting fresh worries about trade tensions with China and the possibility of a looming recession. The consumer sentiment survey fell to 92.1 this month from 98.4 in July, according to a preliminary reading from the University Michigan.
BEIJING--China pledged to "substantially" lower loan interest rates and tackle financing difficulties faced by enterprises, as the world's second-largest economy shows increased evidence of fatigue amid an intensifying trade fight with the U.S. China's State Council said it aims to cut financing costs for small businesses by one percentage point this year, state media CCTV reported in its evening newscast Friday, citing a regular State Council meeting presided over by...
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