U.S. plans more China tariffs if Trump-Xi meeting fails

U.S. plans more China tariffs if Trump-Xi meeting fails

Stocks sank again Monday on fears that the Trump administration will escalate its trade dispute with China by imposing tariffs on all remaining goods the United States imports from that nation.

So far the USA has so far placed $250 billion in taxes on imported Chinese goods, about half of all imports from China, and the taxes on most of those goods are set to rise on January 1. That helped ease concerns that the USA will announce tariffs on all remaining Chinese imports by early December. The Russell 2000 index of smaller-company stocks fell 6.51 points, or 0.4%, to 1,477.31.

The gains were broad in the USA, with all 11 sectors of the benchmark S&P index up for the day.

The S&P 500 index shed 17.44 points, or 0.7 percent, to 2,641.25.

Trump is set to meet Chinese President Xi Jinping at a summit next month.

Stocks have plunged since early October, breaking a long period of relative calm over the summer, and trading has been especially volatile the last few days.

Among industrials, Boeing sank 6.6% to $335.59.

Red Sox fans celebrate latest title; parade on Wednesday
The parade route began at Lansdowne Street and travels through Boylston Street past Boston Common, then ends near City Hall. Police said alcohol would be prohibited along the parade route and no one would be allowed to carry weapons of any kind.

The report sent a market that was rising after promising tech news back down, causing the Dow and S&P 500 to give up their gains for the year. Netflix and Google parent Alphabet were down 5 percent and 4.8 percent, respectively. Its stock traded above $2,000 a share in early September and has fallen 24.5 percent since then, its worst decline in two and a half years.

The chill around China and global trade left emerging- market stocks at an 18-month low, with MSCI's index down for a sixth day in a row.

USA stocks ended a tumultuous day sharply higher, with all major averages rising at least 1.4 percent as volatility continues to grip equity markets during earnings season.

His remarks came a day after Chinese Assistant Foreign Minister Zhang Hanhui underscored that Beijing is not ready to minimize its trade with the USA despite the ongoing trade conflict between the two countries.

US-China Business Council senior vice president Erin Ennis said that it would not be a surprise to see Trump move towards announcing more tariffs, given his repeated threats to do so.

Last week The Wall Street Journal reported that the U.S.is demanding that China produce a "concrete proposal to address Washington's complaints about forced technology transfers and other economic issues".

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