A US delegation will visit China next week for talks aimed at defusing the trade war between the world's two largest economies. The closely watched meeting follows a dismal week for US markets, with losses fuelled partly by trade fears.
Wall Street indexes continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff.
United States share markets suffered on Wednesday their sharpest one-day falls in months, as fears about rising interest rates, inflation, trade tensions intensified. The tech-heavy Nasdaq led the declines, sliding 4%, or 315.9 points, to 7,422. The Dow Jones and S&P 500 also fell by more than 3%, with losses accelerating towards the end of the day. Netflix fell 8%, while Amazon slid 6%.
The blue chip Dow Jones Industrial Average suffered its steepest decline since June 2016 on Friday, amid wider losses in United States markets. The fall came after a string of disappointing earnings reports from giants such as Apple.