Tag: trade tensions
About 20 minutes into trading, the Dow Jones Industrial Average was down about 500 points, or 1.9%, at 25,983.81.
The IMF urge countries to avoid using tariffs to resolve their differences.
The slowdown underlines the pressure that Chinese policymakers face as they attempt to negotiate a deal with the US.
There are still doubts whether talks between US President Donald Trump and Chinese President Xi Jinping will produce progress on trade tensions.
Investors are optimistic after the Federal Reserve signal it was ready to cut interest rates, and the European Central Bank indicate more stimulus may be on the way.
IMF's Christine Lagarde is calling the G20 group to prioritise on solving trade war tensions as it could be risky to the global economic growth.
Growing fears are sending investors to the safety of government bonds as trade tensions between the United States and China escalate further.
Acting US Defense Secretary Patrick Shanahan plans to meet with his Chinese counterpart next week at a regional security conference in Singapore.
The OECD lowered its forecast to 3.3% for this year, down from the 3.5% it predicted in November, which was itself a downgrade from a previous 3.7%.
Several major economies saw sharp downgrades to the GDP estimates, including Germany, Italy and Mexico.
Any easing of tensions on trade could ease gains in the US dollar and boost riskier assets including emerging-market currencies and stocks.
The two diplomats had warmer words regarding efforts to curb North Korea's nuclear ambitions.
Reports on Wednesday said US Treasury Secretary Steven Mnuchin had proposed a fresh round of trade talks with Beijing to tackle problems before the Trump administration slaps more tariffs on Chinese imports.
Trade tensions between the US and China frightened investors, while shares of banks and firms that benefit from inbound tourism languished.
Senior Vice President Wang Xiang told Reuters that the US market was "very attractive" and that Xiaomi was adding engineering resources to develop handsets that are compatible with US cellphone networks.
Trade tensions between the US and China hampered the value of European shares.