Australia stocks lead losses regionally as Trump says trade deal with China may be delayed – CNBC

Overnight stateside, stocks toppled in the middle of the trade unpredictability. The Dow Jones Industrial Average fell 280.23 points to close at 27,502.81 while the S&P 500 slipped 0.7%to end its trading day at 3,093.20. The Nasdaq Composite closed about 0.6 % at 8,520.64. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.737 after falling from levels above 97.9 seen earlier.

Fox News reported that the White House still intends on moving ahead with scheduled Dec. 15 tariffs on Chinese products regardless of recent efforts at a “stage one” trade truce.

Investors have been expecting a “phase one” trade offer in between Washington and Beijing to be tattooed, ahead of a carefully watched date of Dec. 15, when additional tariffs on Chinese exports to the U.S. are set to start.

A private survey of China’s services sector is expected on Wednesday, with the Caixin services Purchasing Managers’ Index for November set to be out around 9:45 a.m. HK/SIN.

The

Japanese yen traded at 108.62 against the dollar after strengthening from lows around 109.2 the other day. The Australian dollar changed hands at $0.6851 after rising from levels below $0.684 in the previous session.

Trump told reporters on Tuesday:” In some ways, I like the concept of waiting till after the election for the China deal, but they want to negotiate now and we will see whether or not the offer is going to be right.” When asked if he had a due date for the offer, he added: “I have no due date, no.”

What’s on tap:

• Australia: Third quarter GDP information at 8:30 a.m. HK/SIN
• China: Caixin services Purchasing Managers’ Index at 9:45 a.m. HK/SIN

— CNBC’s Thomas Franck added to this report.

Over night stateside, stocks toppled in the middle of the trade uncertainty. 500 slipped 0.7%to end its trading day at 3,093.20.

from WordPress http://troot.net/australia-stocks-lead-losses-regionally-as-trump-says-trade-deal-with-china-may-be-delayed-cnbc/