Wed. Sep 30th, 2020

Trade war: Stocks slide as Trump says ‘no deadline’ for China deal – business live

Rolling coverage of the latest economic and financial news, as US proposes steep new tariffs on French cheese, wine, handbags and porcelain

10.31am GMT

The US stock market is now expected to open lower, following Donald Trump’s un-urgent comments about China.

The Dow is tipped to drop by around 0.3%, according to the futures market.

Relatively muted reaction so far given implications of Trump comments on trade deal:#DOW 27699 -0.35%#SPX 3104 -0.35%#NASDAQ 8274 -0.49%#RUSSELL 1605 -0.25%#FANG 2839 -0.50% pic.twitter.com/5Vhm6svK1p

Distinct lack of urgency from Trump vis-a-vis US, China trade deal, suggests tariffs could well kick in on December 15th.

About that phase one trade deal?

10.24am GMT

Donald Trump has alarmed investors by declaring that he’s really in no rush to reach a trade deal with China.

In London, the FTSE 100 has slumped by 81 points or over 1% to 7,203 points, its lowest level in almost two weeks.

BREAKING: No deadline on China deal!

“I have no deadline on #China deal and it might be better to wait until after November 2020 election” #TrumpinUK

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