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Asian and European stocks mostly slid yesterday, as investors eyed China-US trade talks and the Brexit saga, before the US Federal Reserve’s interest rate call. In Europe, Frankfurt fell the heaviest with Bayer shares tumbling after a US jury ruled its weMarkets mostly drop as dealers await Fed
Asian and European stocks mostly slid yesterday, as investors eyed China-US trade talks and the Brexit saga, before the US Federal Reserve’s interest rate call. In Europe, Frankfurt fell the heaviest with Bayer shares tumbling after a US jury ruled its weedkiller Roundup was a “substantial factor” in a gardener’s cancer. The Federal Reserve’s March policy meeting concluded yesterday with analysts predicting it was set to announce a slower pace of interest rate hikes as the world’s biggest economy shows signs of softening amid trade tensions. General optimism about the outlook for the tariffs negotiations has helped propel equities higher across the world this year ‒ offsetting concerns about the outlook for the global economy. But dealers have been spooked by a report that some US officials are feeling some pushback from China on a number of demands, including on the crucial issue of intellectual property. The unnamed negotiators said the Chinese side was growing concerned at the lack of assurances that US duties would be removed, according to the Bloomberg story. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will return to Beijing next week... Read more