U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
The S&P 500 slipped 0.01% to close at 5,911.69, while the Nasdaq lost 0.32%, ending at 19,113.77. The Dow Jones rose 0.13%, finishing the week at 42,270.07.
Markets wavered following Trump's sharply worded social media post, in which he claimed China is facing economic collapse due to U.S. tariffs and said Beijing had "totally violated" the agreement Washington announced earlier this month.
“Everybody was happy! That is the good news!!! The bad news is that China… HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,” Trump posted.
He added he would soon speak with Chinese President Xi Jinping, expressing hope that the matter could be resolved.
In response, China pushed back, pointing to ongoing U.S. restrictions on chip exports. A spokesperson from China’s embassy in Washington, Liu Pengyu, said the U.S. should stop “discriminatory restrictions” and respect the Geneva consensus.
Meanwhile, fresh U.S. economic data showed consumer sentiment remained flat in May, with the University of Michigan’s index holding at 52.2. Short-term inflation expectations edged up to 6.6%, but long-term expectations fell to 4.2%, the first drop since December.
Russia has announced it is ending its unilateral moratorium on the deployment of land-based intermediate- and short-range missiles, saying the origina...
Authorities in Beijing have evacuated over 80,000 people as severe rainfall batters the Chinese capital, with flooding expected to intensify into Tues...
Russia has announced it no longer considers itself bound by a self-imposed moratorium on deploying short- and medium-range missiles, citing growing th...
A fire beneath a commuter train at Newport Station in Jersey City caused major disruptions to New Jersey transit lines on Monday morning (August 4)....
On Monday, U.S. President Donald Trump announced plans to significantly raise tariffs on India over its continued purchase and resale of Russian oil, ...
Russia has announced it is ending its unilateral moratorium on the deployment of land-based intermediate- and short-range missiles, saying the original conditions no longer apply.
Authorities in Beijing have evacuated over 80,000 people as severe rainfall batters the Chinese capital, with flooding expected to intensify into Tuesday.
Russia has announced it no longer considers itself bound by a self-imposed moratorium on deploying short- and medium-range missiles, citing growing threats from the U.S. and NATO.
A fire beneath a commuter train at Newport Station in Jersey City caused major disruptions to New Jersey transit lines on Monday morning (August 4).
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Tesla has granted Elon Musk a $29 billion share award as part of a new compensation plan to retain him as CEO while the company shifts focus from electric cars to robotaxis and AI. The move revives elements of a controversial 2018 package previously struck down by a Delaware court.
OPEC+ will increase oil production by 547,000 barrels per day in September after eight members of the organisation held a brief virtual meeting on Sunday. They said the company will continue to accelerate its output hikes to regain market share.
McDonald's plans to significantly expand its investments in artificial intelligence by 2027, with India expected to play a central role in data governance, engineering, and platform development, a senior executive said on Friday.
U.S. President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates unchanged.
Microsoft’s market capitalization surpassed $4 trillion in after-hours trading on Wednesday following a stronger-than-expected earnings report for its fiscal fourth quarter, driven by robust growth in its cloud business.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment