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Wall Street stocks slipped in early trading on Tuesday as trade tensions with China resurfaced, putting pressure on major indices. The S&P 500 fell 1 per cent, the Dow Jones Industrial Average slipped 383 points or 0.8 per cent, and the Nasdaq composite shed 1.5 per cent as of 9:57 a.m. Eastern time, AP reported.The…
China recently announced that it has formally added the prominent US technology companies, Canadian research firm TechInsights and several other foreign entities to its Unreliable Entity List. The Ministry of Commerce stated the action was taken to safeguard China’s national sovereignty, security, and development interests.The entities added to the list—which include TechInsights, its branches, and…
China gave a stern warning to the US on Tuesday, saying that it is prepared to “fight to the end” as the trade conflict between the two economic giants continues to grow.These remarks come after US President Donald Trump announced imposing an additional tariff of 100% on Chinese imports to the country. This takes the…
China rejects US sanctions China firmly rejected recent US restrictions and sanctions, pledging to take necessary measures to safeguard its legitimate rights and interests.In a post on X Monday, Chinese foreign ministry Spokesperson Lin Jian said, “China firmly rejects the recent US restrictions and sanctions on China, and will do what is necessary to protect…
US stocks rebounded on Monday after President Donald Trump signalled a softer approach on China, easing market fears of escalating tariffs and a potential trade clash.The S&P 500 rose 1.1%, recovering nearly half of its steep decline on Friday, which had marked its worst drop since April. The Dow Jones Industrial Average gained 413 points,…
Major technology companies suffered their worst single-day losses since April last week, with Amazon, Nvidia and Tesla leading a $770 billion wipeout in market capitalisation following President Donald Trump‘s threats of increased tariffs on Chinese goods. According to a report by CNBC, shares of Amazon, Nvidia and Tesla each dropped approximately 5% during October 10…
Michael Dell, CEO of Dell Technologies has voiced his support for US President Donald Trump’s handling of US-China trade tensions. Dell thanked Trump in a strikingly similar to Trump’s own social media style. Dell reposted Trump’s message on social media platform X (formerly known as Twitter), which downplayed fears of a trade war and also…
China’s overseas soared in September, beating analysts’ expectations, despite the ongoing trade tensions with the United States, according to official data.China’s exports in September hit a six month peak, surging 8.3% year-on-year to $328.5 billion, beating economists’ expectations, according to customs data released Monday. The growth far outpaced August’s 4.4% rise and exceeded Bloomberg’s forecast…
Beijing has warned that it will take “corresponding measures” to protect its interests if the US proceeds with plans to impose additional tariffs on Chinese goods.At a regular press briefing on Monday, Chinese foreign ministry spokesperson Lin Jian urged Washington to promptly correct its “wrong practices,” adding that any action should be based on equality,…
Rare earth elements comprise a collection of 17 elements with comparable chemical characteristics. (AI image) India is looking to launch its programme for building a rare earth stockpile that will ease supply chain issues for the industry. This action comes in response to China’s restrictions on rare earth magnet exports, an essential component for electric…
