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Money Stocks sink as trade war heats up with new tariff threats

18:51  11 july  2018
18:51  11 july  2018 Source:   msn.com

Economist: tariff threat is a 'sledge hammer'

  Economist: tariff threat is a 'sledge hammer' TORONTO - The Trump administration's tariff threats have the potential to drive companies currently operating in Canada out of the country, the president of a Canadian automotive association said Tuesday. The United States has already imposed tariffs on the steel and aluminum industries and has threatened to impose a 25 per cent levy on Canadian-made autos. The tariffs could make Canadian-made products uncompetitive and add $6,000, $10,000 or more to the cost of a vehicle, said David Adams, president of Global Automakers of Canada, at an event sponsored by the Economics Club of Canada.

Trader Jonathan Corpina works on the floor of the New York Stock Exchange, Wednesday, July 11, 2018. Stocks are opening lower on Wall Street TRADE TENSION: China's government said it will take "firm and forceful measures" if the Trump administration goes ahead with its threat of tariff hikes

NEW YORK (AP) — Global stock indexes are falling Wednesday after the Trump administration released a list of 0 billion in goods that could be The S&P 500 had risen for four days in a row and it closed at a five-month high Tuesday. TARIFF THREATS : The Trump administration's list includes

FILE - In this Oct. 25, 2016, file photo, a pedestrian walks past the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, July 11, 2018. (AP Photo/Mary Altaffer, File): In this Oct. 25, 2016, file photo, a pedestrian walks past the New York Stock Exchange. © The Associated Press In this Oct. 25, 2016, file photo, a pedestrian walks past the New York Stock Exchange.

NEW YORK — Global stock indexes are falling Wednesday after the Trump administration released a list of $200 billion in goods that could be hit with tariffs and China said it would to retaliate. Energy and industrial companies and basic materials makers are taking some of the worst losses.

KEEPING SCORE: The S&P 500 index lost 10 points, or 0.4 percent, to 2,783 as of 11:10 a.m. Eastern time. The Dow Jones Industrial Average dropped 123 points, or 0.5 percent, to 24,796. The Nasdaq composite fell 26 points, or 0.3 percent, to 7,732. The Russell 2000, an index of smaller and more U.S.-focused companies, gave up 4 points, or 0.2 percent, to 1,691.

Ottawa heard by accident of Harper's U.S. visit

  Ottawa heard by accident of Harper's U.S. visit Ottawa heard by accident of Harper's U.S. visitAccording to one senior official, Harper himself didn't mention the visit, bucking convention by not informing the Canadian government.

BEIJING (AP) — Asian stock markets rose Thursday following Wall Street’s decline amid U.S.-Chinese trade ENERGY: Benchmark U.S. crude gained 37 cents to .75 per barrel in electronic trading on the New York The euro edged up to .1675 from .1673. Copyright © 2018 The Associated Press.

Global stock indexes sank on Wednesday after the Trump administration released a list of 200 billion dollars in goods that could be hit with tariffs and China said The new list of tariff targets from the US Trade Representative includes vacuum cleaners, furniture and car and bicycle parts, but US-branded

The S&P 500 had risen for four days in a row and it closed at a five-month high Tuesday.

TARIFF THREATS: The Trump administration's list includes vacuum cleaners, furniture and car and bicycle parts but not U.S.-branded smartphones and laptops. It is scheduled to make a decision on the potential tariffs after Aug. 31.

China's government said it will take "firm and forceful measures" if the new tariffs are enacted. Chipmakers, which make large portions of their sales in China, took some of the worst losses. Nvidia fell 1.6 percent to $249.09 and Micron Technology lost 2.7 percent to $54.26.

Among industrials, Caterpillar lost 2.2 percent to $138.15 and farm equipment maker Deere lost 1.8 percent to $142.

WHAT NEXT? On Friday the U.S. and China put 25 percent taxes on $34 billion in imports and President Donald Trump has said nearly all imports from China, some $500 billion in goods, could be taxed. China imported only $130 billion in goods from the U.S. last year but could retaliate through other means including regulatory moves and investigations of U.S. companies.

Trump has attacked Canada, Europe, and Mexico for their trade barriers — here's how tariffs in every country measure up

  Trump has attacked Canada, Europe, and Mexico for their trade barriers — here's how tariffs in every country measure up President Donald Trump defends his new tariffs by claiming other countries are "taking advantage" of the US. But other major economies do not maintain much higher tariff levels than the US. The US, Australia, Canada, and Japan all have average applied tariff levels under 5%, while the European Union and Mexico are not much higher.The US is more protectionist by other trade measures than its allies.President Donald Trump has said that the current trade battles with key US allies are necessary because other countries are "taking advantage" of the US.

Global stock indexes sank Wednesday after the Trump administration released a list of 0 ‘‘When you start adding all of that together, you end up with typically higher inflation and low productivity,’’ he said. ‘ The list of new tariff targets from the US Trade Representative includes vacuum cleaners

NEW YORK (AP) — Global stock indexes are sinking Wednesday after the Trump administration released a list of 0 billion in goods that could be hit with tariffs and China said it would retaliate. Wholesale gasoline fell 4.6 percent to .06 a gallon. Heating oil sank 5.4 percent to .10 a gallon.

Indexes in Europe and Asia took steeper losses as investors worried the worsening trade dispute will hamper the growth of the global economy.

The trade dispute stems from Washington's complaint that Beijing steals or pressures companies to hand over technology and concerns that plans for state-led development of Chinese champions in robots and other fields might erode American industrial leadership.

OVERSEAS: France's CAC 40 lost 1.4 percent and the DAX in Germany fell 1.4 percent as well. Britain's FTSE 100 index dropped 1.1 percent.

Japan's benchmark Nikkei 225 fell 1.2 percent and South Korea's Kospi lost 0.6 percent while Hong Kong's Hang Seng shed 1.3 percent.

GROUNDED: Airlines took sharp losses after American said it expects slower fare growth in the U.S. American slumped 5.5 percent to $36.97 and United Continental slid 2.9 percent to $69.24.

ENERGY: Benchmark U.S. crude fell 1.3 percent to $73.12 a barrel in New York. Brent crude, used to price international oils, lost 2.3 percent to $77.03 a barrel in London.

Trump says China could face more than $500 billion in U.S. tariffs

  Trump says China could face more than $500 billion in U.S. tariffs Trump says China could face more than $500 billion in U.S. tariffs.Load Error

TARIFF THREATS : The Trump government proposed a 10 percent tax on imported items, including vacuum cleaners, furniture and car and bicycle Fox already owns 39 percent of Sky and wants to buy the rest, but competitor Comcast has come up with its own offer. Fox says the new offer estimates

Key Chinese Electronic Parts and Seafood Targeted in Latest US Tariff Threat Wall Street Journal. Here’s when Americans will start feeling the pain from escalating Trump-imposed tariffs MarketWatch. The Finance 202: Stock market shrugs off Trump’s trade war Washington Post.

Chevron sagged 2.5 percent to $124.45 and ConocoPhillips fell 1.3 percent to $70.83.

PRICES RISING: The Labor Department said wholesale prices kept rising in June. Excluding food and gas prices, which can be volatile, the department's index of producer prices has risen 2.8 percent over the last year. That's the fastest pace in six years and a sign inflation is picking up after years of weakness.

Investors have worried that the Federal Reserve will raise interest rates more quickly as inflation increases. The Fed wants inflation to stay at around 2 percent, but it suggested recently that it won't act too quickly if inflation goes above the 2 percent mark.

REACH FOR THE SKY: Twenty-First Century Fox raised its offer for European pay TV service Sky. Fox already owns 39 percent of Sky and wants to buy the rest, but rival Comcast has stepped in with its own bid. Fox says the new offer values Sky at $32.5 billion.

Fox lost 3.8 percent to $47.89. In the U.K., Sky stock fell 0.2 percent.

BONDS: Bond prices ticked higher. The yield on the 10-year Treasury note fell to 2.86 percent from 2.87 percent.

The dip in bond yields helped utility companies make small gains. Utility companies tend to pay large dividends, so investors who want income often buy them when bond yields fall. Real estate investment trusts, which also pay large dividends, fell less than the rest of the market.

CURRENCIES: The dollar edged up to 111.31 yen from 111.28 yen. The euro edged fell to $1.1718 from $1.1745.

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AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP His work can be found at https://apnews.com/search/marley%20jay

Canada to suffer double whammy from Trump's escalating trade battle: Don Pittis .
As U.S. President Donald Trump escalates his trade dispute with China, Canadian exporters are in danger of being hit twice.Ironically, as U.S. President Donald Trump threatens to up the ante with China, the NAFTA deal that he has called "the worst trade deal ever" means Canadian exporters like Shaw are suffering the backwash from sanctions never intended for them.

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