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Wall Street declines fell sharply amid fears of trade deal

2019-05-06 02:20 pm | Resource: News | No Views : 121

Wall Street  declines fell sharply amid fears of  trade deal

Markets in the United States opened sharply in the red zone on Monday as the Dow lost more than 400 points as investors focused on recent developments in the Washington-Beijing trade deal

after US President Donald Trump announced he planned to increase tariffs of $ 200 billion from Chinese products from 10 percent to 25 percent from Friday. Market observers have shifted to safe haven investments such as US Treasuries, Gold and Yen. At the same time, corporate profits and IPO remained in the limelight.

The United States trip is not on Liu's schedule anymore

Chinese Vice Premier Liu Hele will not go to the United States this week, according to well-informed sources. President Xi Jinping is believed to want the negotiators to visit Washington, but he may arrive two days after the rest of the delegation. Axis said on Monday that China had second thoughts on some trade arrangements in the negotiations, which the United States considered a closed deal.

Earlier in the day, the Chinese Foreign Ministry insisted that the next round of trade talks with the United States will be held this week, but never mentioned personally as a member of the delegation.

  Buffett is confident of the US markets, especially Kraft Heinz

Berkshire Hathaway chief executive Warren Buffett said Monday that Kraft Heinz had "confidence" after the food company said it would return its profits for 2016 and 2017 due to "errors" and "discrepancies". "

Buffett Holdings owns approximately 27% of Kraft Heinz, being the largest single shareholder. A $ 10.6 billion stake is Berkshire's sixth-largest stake.

The Kraft Heinz deposit on Monday revealed that it will also be delayed with the publication of the quarterly earnings report for the first three months of 2019. The company is also "diligently" submitting its annual report on the 10-K model for fiscal year 2018 "as soon as practicable, Filing.

Wall Street Opens
 
  • The Dow Jones Industrial Average was down 1.69%.
  • The S & P 500 fell 1.52% at the opening bell.
  • The Nasdaq 100 fell 2.03% at the start of the session.

 


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