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Home / World / Dow celebrates a breathtaking comeback as China confirms that the trading team will go to the US

Dow celebrates a breathtaking comeback as China confirms that the trading team will go to the US



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/ Source: CNBC.com

By Fred Imbert, CNBC

Stocks had made up most of their earlier losses on Monday, as investors dared to China and the US is still trading despite the threat of US President Donald Trump to raise tariffs on Chinese imports.

The Dow Jones Industrial Average fell only 75 points, while the S & P 500 fell 0.4%. The Nasdaq Composite fell 0.5 percent.

The comeback of the market accelerated when CNBC reported that the Chinese delegation would actually travel to the US to continue negotiations, the sources said, but with a smaller group than originally planned. [1

9659007] The Dow had dropped 471 points on Monday, while the S & P 500 fell 1.2 percent in its lows. The Nasdaq fell short by 2.2 percent.

Equities initially fell after Trump tweeted on Sunday that the current $ 10 billion of $ 200 billion in Chinese goods will rise to 25 percent on Friday. He also threatened to impose another 25 percent duty on Chinese goods worth $ 325 billion soon.

Although the trade talks between Washington and Beijing are due to resume on Wednesday, the president complained that progress was "too slow." while China is trying to renegotiate the terms of the deal.

"What happened overnight is a bit exciting on both sides. I think both sides want to continue progress towards a trade agreement, "said Michael Arone, chief strategist for investment at State Street Global Advisors.

US Commercial Agent Robert Lighthizer, known for his Hawkian economic views on China , Trump has encouraged not to eliminate the taxes on Beijing's goods until he shows that he meets the terms of the agreement. "

" Bob Lighthizer has his ear in the final days of trade talks, "said Larry McDonald, publisher of The Bear Traps Report. "The Hardball Game Book Strikes Again."


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