Traders work on the floor of the New York Stock Exchange on Friday. Associated Press
Wall Street’s main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom.
Asian and European stocks advanced on Tuesday, after Wall Street reached record peak on easing investor concerns over the economic impact of China’s coronavirus outbreak.
Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.
Global shares dipped on Friday as data out of China, the eurozone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in US fiscal stimulus.
Chinese firms like Xiaomi are facing delays getting approvals from India’s quality control agency for their goods, five industry sources told Reuters, as the business environment deteriorates after a clash on their Himalayan border.
Abu Dhabi National Energy Company (Taqa), announced on Thursday its earnings for the second quarter of 2020. The company’s revenues reached Dhs3.3 billion for the quarter, reflecting the COVID-19 pandemic ongoing adverse impact on energy markets.