World shares mixed on worries over more US tariffs

World shares mixed on worries over more US tariffs

World shares mixed on worries over more US tariffs

The United States is preparing to announce tariffs on all remaining Chinese imports by early December if talks next month between presidents Donald Trump and Xi Jinping fail to ease the trade war.

Already, about $250 billion of Chinese goods imported to the US are subject to tariffs.

Trump has already imposed tariffs on $250bn worth of Chinese goods, and China responded with retaliatory duties on $110bn worth of USA goods.

News of the possible tariffs sent Boeing stock tumbling 6.6 percent, contributing to the Dow's overall losses. They've been taken out an average of USD500 billion a year for many years. Besides, Washington accuses Beijing of using unfair trade practices, and forcing US firms to export technology to China, stealing intellectual property.

The chill around China and global trade left emerging- market stocks at an 18-month low, with MSCI's index down for a sixth day in a row.

Hong Kong's Hang Seng Index fell 0.9 percent Tuesday, while the Shanghai Composite Index rose 1 percent. Futures for the Dow were up 0.4 percent and the broader S&P 500 futures added 0.5 percent.

Those threats were given new life this week when three unnamed sources were cited by Bloomberg as confirming that the Trump administration would go through with tariffs on the remaining US$260 billion of imports from China if upcoming talks between the two countries' leaders did not go well. Its stock traded above $2,000 a share in early September and has fallen 24.5 percent since then.The S&P 500, the main benchmark for the US stock market, has fallen 9.9 percent from its latest record high on Sept. 20.

NAB's Mark Todd said he doesn't see China or U.S. backing down. Miners and energy companies led the way as nearly every sector on the Stoxx Europe 600 Index climbed.

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Amazon.com dropped another 6.3 percent to $1,538.88.

A spokeswoman for the US Trade Representative's office referred Reuters to Sanders' statement, while US Commerce Department officials did not immediately respond to requests for comment.

US crude fell 1.06 percent to $66.33 per barrel and Brent was last at $76.30, down 1.34 percent. The euro fell to $1.1354 from $1.1372.

All sectors on the TSX lost ground on Monday, led by cannabis-heavy health care which was down more than 10 per cent. Aphria Inc. closed down 17.35 per cent, Canopy Growth Corp.

The price of USA crude oil fell 0.8% to $67.04 a barrel in NY.

Benchmark 10-year notes last fell 4/32 in price to yield 3.1 percent, from 3.087 percent late on Monday.

The dollar rose to 112.35 yen from 111.85 yen.

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