· An index of global stock markets surrendered early gains on Friday after Chinese agriculture officials who were to visit U.S. farm states next week canceled their trip, dampening optimism on U.S.-China trade talks.
The cancellation came as U.S.-Chinese trade talks were held in Washington and U.S. President Donald Trump said he wanted a complete trade deal, not just an agreement for China to buy more U.S. agricultural goods.
The MSCI world equity index, which tracks shares in 47 countries, was 0.23% lower.
On Wall Street, stocks, which had started the day strong following China cutting a key lending rate for the second straight month, reversed course on the news of the canceled farm visits.
The Dow Jones Industrial Average fell 159.72 points, or 0.59%, to end at 26,935.07, the S&P 500 lost 14.72 points, or 0.49%, to close at 2,992.07 and the Nasdaq Composite dropped 65.21 points, or 0.8%, to finish at 8,117.67.
Increased concerns that the United States and China are unlikely to forge a trade deal in the near term drove U.S. Treasury yields lower.
Benchmark 10-year notes gained 15/32 in price to yield 1.7215%, down from 1.774% on Thursday.
· Asian shares started higher on Monday on hopes of an interim Sino-U.S. tariff deal after the two countries described their talks as “productive” and “constructive”, while oil gained more than 1% as Middle East tensions remained elevated.
Japan's Nikkei .N225 opened on a firm note, rising 0.2% while Australian shares added 0.5%. New Zealand's benchmark index .NZ50 was 0.1% higher. South Korea's Kospi .KS11 was a touch weaker after disappointing trade data.
That left MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS up 0.5% at 511.3 points. It is up 3.4% so far in September.
Reference: CNBC, Reuters
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