The Dow Jones Industrial Average shed close to 500 points on Friday amid global growth concerns as China and Europe reported weaker-than-expected economic data. U.S. capital markets have been roiled by volatility as any sliver of financial news, positive or negative, have set the major indexes in motion, such as trade wars.
U.S. President Donald Trump and Chinese president Xi Jinping agreed to cease fire on their tariff-for-tariff battle. The truce reached at the G-20 Summit didn’t quell investor fears as markets in the U.S. and China have been fretting on the notion that a trade deal can only materialize after lengthy discussions between the two economic superpowers–contentious topics like forced technology transfer and intellectual property could derail negotiations.
Trump and Jinping met at the G-20 Summit in Buenos Aires, putting global markets on pause as the two economic superpowers met to hopefully ameliorate their trade differences. As part of the agreement, both nations agreed to withhold imposing further tariffs on each other for 90 days while they work out a firm, ironclad deal.
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