Stocks Tumble Again on Report US Plans More Tariffs

Global stocks pare gains as investors remain cautiousMore

Fear that the Trump administration will announce tariffs on all remaining imports from China helped knock US stocks from a strong early gain to another sharp loss Monday.

The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of USA goods.

Since March, the Trump administration has introduced several waves of tariffs worth tens of billions of dollars against Chinese goods in an effort to rebuild the United States industrial base.

Meanwhile, Gao Feng, a spokesperson for China's Ministry of Commerce, said at a regular press briefing last Thursday that China had always been honest about trade talks with the US.

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Hillary Clinton and former President Bill Clinton, former VP Joe Biden, former Attorney General Eric Holder, Rep. Sayoc, who has NY ties and was born in Brooklyn, was arrested Friday in South Florida.

Citing a report from Citigroup economists, Bloomberg says that possible escalation of the trade war could hit consumers 10 times harder than earlier tariffs aimed mostly at industrial inputs and goods.

Hong Kong's Hang Seng Index fell 0.9 percent Tuesday, while the Shanghai Composite Index rose 1 percent.

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.

Bloomberg News reported that the Trump administration will put tariffs on the rest of the country's imports from China if Presidents Donald Trump and Xi Jinping don't make substantial progress in easing the trade dispute next month.

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After the journalist disappeared, Saudi Arabia initially insisted Khashoggi had walked out of the consulate after visiting the building.

Boeing, which saw its stock gain early Monday, became the leading laggard on the Dow, closing down 6.6 percent and suffering its worst day since February 2016. Ten percent tariffs on $200 billion in imports that took effect in September are due to increase to 25% on 1 January. "We're in a trade dispute-I want to use that word because it's a nice, soft word-but we're going to win", Trump said at an event in Indiana Saturday. The euro rose to $1.1377 from $1.1372. Natural gas was unchanged at $3.19 per 1,000 cubic feet.Gold lost 0.7 percent to $1,227.60 an ounce.

US crude fell 1.28 percent to $66.18 per barrel and Brent was last at $76.07, down 1.64 percent. Stocks climbed earlier this month after Bolsonaro led the previous round of voting, as investors preferred him to leftist parties.

Benchmark 10-year U.S. Treasury notes last fell 7/32 in price to yield 3.1132 percent, from 3.087 percent late on Monday. Brent crude, used to price worldwide oils, lost $1.14 to $76.20 per barrel.

CURRENCIES: The dollar strengthened to 112.95 yen from 112.37 yen late Monday.

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Jubeir did say that six officials have been dismissed to date, on top of another 18 it has arrested in connection with the attack. Prince Mohammed, the heir apparent to the kingdom's throne, has denounced the "repulsive" murder, denying any involvement.

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