Investors sent stocks lower on Monday morning as they weighed looming trade talks between the US and China and a slew of other key events to help gauge the health of the global economy.
- Key negotiators are due to hold meetings on trade between the US and China on Wednesday and Thursday in Washington. China’s top economic aide is scheduled to meet with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
- Apple, Amazon, Facebook, and Microsoft are among companies reporting quarterly earnings. Boeing, 3M, Alibaba, SAP, Qualcomm, Tesla, Samsung, Whirlpool, Harley-Davidson, McDonald’s, Verizon, and Exxon are also among blue-chip companies scheduled to post results.
- Federal Reserve Chairman Jerome Powell is set to hold a news conference after the central bank’s rate decision on Wednesday.
- On Tuesday, UK lawmakers are to vote on amendments to Prime Minister Theresa May’s Brexit deal with the European Union.
Here’s where things stood in markets as of 9:05 a.m. in London (4:05 a.m. ET).
- Futures on the major US indexes S&P 500, Dow Jones Industrial Average, and Nasdaq were down at least 0.5% each.
- The European benchmark, the Euro Stoxx 50, was down about 0.4%. France’s CAC index declined 0.5%, Germany’s Dax was down 0.3%, as was the UK’s FTSE 100.
- The Shanghai Composite closed down about 0.2%, while the Hang Seng closed about flat, up 0.03%.
- Brent crude oil was down 1.5% to $US60.69 a barrel.
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