AFP, New York :
European and US stocks took a beating Tuesday on dimming hopes for a US-China trade accord and as talks between Britain and Europe over Brexit teetered on the brink of collapse.
US markets were in the red the entire session after the Commerce Department late Monday announced new restrictions on 28 Chinese entities over human rights violations, drawing an angry rebuttal from Beijing.
Stocks took another drop during the afternoon after the US State Department announced new visa restrictions Chinese government and Communist Party officials alleged to have persecuted Muslims.
Besides the new US sanctions, there also were fresh reports citing unnamed Trump administration officials saying the White House is mulling new measures to curtail US investment in China.
“It’s not a good sign to see these type of measures being put in place just before the trade negotiation resumes,” said Tom Cahill of Ventura Wealth Management.
“The market is skeptical that anything good can come out of the negotiations this week.”
Major US indices slid more than one percent, with the S&P 500 skidding 1.6 percent to 2,893.06.
European and US stocks took a beating Tuesday on dimming hopes for a US-China trade accord and as talks between Britain and Europe over Brexit teetered on the brink of collapse.
US markets were in the red the entire session after the Commerce Department late Monday announced new restrictions on 28 Chinese entities over human rights violations, drawing an angry rebuttal from Beijing.
Stocks took another drop during the afternoon after the US State Department announced new visa restrictions Chinese government and Communist Party officials alleged to have persecuted Muslims.
Besides the new US sanctions, there also were fresh reports citing unnamed Trump administration officials saying the White House is mulling new measures to curtail US investment in China.
“It’s not a good sign to see these type of measures being put in place just before the trade negotiation resumes,” said Tom Cahill of Ventura Wealth Management.
“The market is skeptical that anything good can come out of the negotiations this week.”
Major US indices slid more than one percent, with the S&P 500 skidding 1.6 percent to 2,893.06.
