Asian stocks follow Wall Street lower on trade worries
BEIJING (AP) — Asian stock markets followed Wall Street lower after President Donald Trump cast doubt over the potential for a trade deal with China this year.
Benchmarks in Tokyo and Hong Kong fell more than 1% while Shanghai and South Korea also retreated.
Trump said he has “no deadline” for a trade deal and doesn’t mind waiting until after next year’s presidential election to make one. Investors had hoped for at least enough progress to stave off new U.S. tariffs on Chinese goods, including smartphones and laptops, scheduled to start Dec. 15.
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