"Stocks are selling off globally this morning after President Trump returned from his summit with China's Xi Jinping but gave few specifics about what was achieved. Every major index in Asia and Europe was solidly down. The volatile South Korea KOSPI lost more than 6%; China's CSI 300 was down 1.12%. In the U.S., S&P 500 futures were off 1% before the opening bell in New York."
"“Trump told reporters that both he and Xi want the conflict in Iran to end and for Iran to not have a nuclear weapon. He said that the two leaders had made ‘fantastic trade deals,’ without providing details. China's government said it had reached ‘a series of new common understandings’ with the U.S., but didn't say what those entailed.”"
"“Only” 200 jets. Boeing stock lost 4.73% yesterday and a further 1.38% in overnight trading after Trump announced that China agreed to order 200 planes from the company. On Trump's previous trip to China in 2017, 300 aircraft were sold. Prior to this trip, White House sources had suggested 500 planes might be sold."
Global markets declined after President Trump returned from a summit with China’s Xi Jinping while providing few specifics about results. S&P 500 futures fell 1% and major European indexes also dropped, with the Stoxx 600 down 1.28% and the FTSE 100 down 1.42%. In Asia, South Korea’s KOSPI fell 6.12% and Japan’s Nikkei 225 declined 1.99%, while China’s CSI 300 dropped 1.12%. Brent crude rose to about $109 per barrel. Boeing shares fell sharply after Trump said China agreed to order 200 jets, below earlier expectations of 300 and 500. China’s government cited “new common understandings” without details, and Trump referenced “fantastic trade deals” without specifics.
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