Updated CNBC news notes U.S. stocks closing lower on U.S. and China trade talks appearing to have stalled


  • Trade talks between the U.S. and China appear to have stalled.
  • China has not shown willingness to revisit past commitments it made that it reneged on earlier this month.
  • Sources say scheduling discussions have not taken place since the Trump administration ratcheted up its scrutiny of Chinese telecom companies.

The CNBC was reporting late in the U.S. day, around the time the U.S. stocks started to bleed that trade talks between the U.S. and China had appeared to have stalled. 

Key notes from the article:

  • Scheduling for the next round of negotiations is “in flux” because it is unclear what the two sides would negotiate, two sources briefed on the status of the talks said. China has not signaled it is willing to revisit past promises on which it reneged earlier this month, despite showing up for talks in Washington last week.
  • Stocks dipped after the report that trade discussions have stalled. The three major U.S. indexes all closed lower Friday.
  • President Donald Trump on Friday again said the world’s two largest economies came close to a trade agreement before China backtracked.
  • “We actually had a deal and they broke it, OK?” the president told the National Association of Realtors.
  • A spokesperson for China’s Foreign Ministry said that China prefers to resolve disputes through dialogue. The countries’ two presidents have been in touch, the spokesman said, but the U.S. overall has been “insincere” in its position.
  • “Words must be matched with deeds,” spokesperson Lu Kang said at a daily briefing.
  • Reacting to U.S actions on Huawei, China’s Commerce Ministry said in a statement, “We firmly oppose the act of any country to impose unilateral sanctions on Chinese entities based on its domestic laws, and to abuse export control measures while making ‘national security’ a catch-all phrase. We urge the US to stop its wrong practices.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD remains on the back foot amid ongoing trade concerns

EUR/USD is trading around 1.1150, the lowest in over two weeks. Markets are worried about US-Sino trade tensions as US companies stop working with China's Huawei. European elections are warming up.

EUR/USD News

GBP/USD consolidates its losses amid Brexit pessimism

GBP/USD is trading in the low 1.2700s, close to the lowest since January. UK PM May is set to present a new plan after cross-party talks failed and as calls for her to quit mount.

GBP/USD News

USD/JPY off multi-day tops, looks to test 110.00 ahead of Fedspeak

Japanese growth optimism in play as risk-on fades amid looming US-China trade risks. Eyes on risk sentiment, trade developments and Fed speak for fresh directives.

USD/JPY News

Gold aims to revisit 9-month old support-line near $1272

Gold is on its third negative trading day as it seesaws near $1276.50 ahead of the European open on Monday. Pessimism surrounding the US-China and the US-Iran relations could limit the bullion’s decline near trend-line support.

Gold News

Cryptos stage a Sunday surge, levels to watch – Confluence Detector

Cryptocurrencies have enjoyed a massive comeback early on Sunday, recovering most losses. The cleanup seen ahead of the weekend may be over, and it is time to look up to higher levels. Here are the levels to watch according to the Confluence Detector.

Read more

Majors

Cryptocurrencies

Signatures