Wall Street has not been performing well form the last few days, and there are many reasons behind such a poor performance of the world’s largest stock markets. However, yesterday Dow Jones industrial average fell by 0.87% when US officials said that there are now lower chances of US-China trade deal. White House advisor Larry Kudlow said that US-China trade deal is on the long distance which shows that both countries are not in a mood to talk about their trade issues. On the other hand, the European stock market also did not perform well when the Bank of England and the European Commission revealed a slow growth rate of European nations for the upcoming year. European commission’s said that they are expecting a slow growth of only 1.3% which many investors around the world did not anticipate. On the other hand, if we look into US-China trade issues, then it seems like both countries are keeping their distance to talk about a trade deal.
A few days ago many experts predicted that both countries officials might meet end the end of January to discuss trade issues, but that did not happen. Now some reports are coming which are stating that US president Donald Trump and Chinese President Xi Jinping will not meet for the next couple of months regarding a trade deal. However, a merger between two big companies namely SunTrust Banks Inc. and BB&T Corp lift investors spirit due to which stock market ended positively. Other finance-related announcements also done on yesterday, but none of them affected that much as compared to European nations slow growth rate expectation plus low chances of a trade deal between US-China.