Investors will watch for market reaction to a South China Morning Post report that said the U.S. and China made no progress in deputy-level trade talks this week.
South China Morning Post report
that said the U.S. and China made no progress in deputy level trade talks this week. In discussions that were held earlier in the week, China refused to discuss the issue of forced technology transfers, the report said. The SCMP report also said that high-level trade negotiations including Chinese Vice Premier Liu He would be cut to one day now, with the delegation from Beijing set to leave Washington on Thursday instead of Friday as originally planned.
The trade negotiations between Washington and Beijing this week were highly anticipated. The two largest economies have struggled to reach a deal to end their trade war that has now lasted for more than a year. Washington and Beijing have slapped tariffs on billions of dollars worth of each other's goods.U.S. stock futures tumbled
following the SCMP report, with Dow Jones Industrial Average futures plunging more than 300 points at one point. They pointed to a implied opening drop of 284.01 points for the Dow at Thursday's open stateside, as of 7:05 p.m. ET Wednesday. S&P 500 and Nasdaq-100 futures also pointed to declines for the two indexes at Thursday's open on Wall Street., which tracks the greenback against a basket of its peers, was last at 99.118 after bouncing from levels below 99.0 yesterday.
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