Wall Street was set to extend a two-day losing streak on Wednesday, as investors...
- Wall Street was set to extend a two-day losing streak on Wednesday, as investors fretted over the outcome of a crucial round of U.S.-China trade negotiations.
China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war, sources told Reuters. “It seemed a deal was just widely accepted and basically priced in, now we’re left wondering whether it will happen at all and what impact more tariffs will have on the global economy and markets. The next few days could be massive.”
Adding to the jitters was Chinese trade data that showed solid imports but an unexpected fall in April exports, painting a mixed picture of the economy. Of the 414 S&P companies that have reported so far, about 75% have beaten profit estimates, according to Refinitiv data.
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