Oil falls as trade worries mount, Saudi comments limit losses
Oil fell on Monday as U.S. trade disputes with Mexico and China deepened concerns about weakening global crude demand, while a slump in equities also weighed on crude futures.
Oil fell on Monday as U.S. trade disputes with Mexico and China deepened concerns about weakening global crude demand, while a slump in equities also weighed on crude futures.
The Nasdaq tumbled 1.6% on Monday, confirming a correction as it was dragged down by Alphabet, Facebook and Amazon.com on fears the companies are the targets of U.S. government antitrust regulators.
The Nasdaq confirmed it was in a correction on Monday as stocks extended their recent sell-off, and the continued flight to safe-haven assets pushed 10-year U.S. Treasury yields to their lowest since September 2017.
Alphabet Inc's shares closed 6% down on Monday following reports that the U.S. Justice Department may investigate Google for hampering competition.
Rare earth elements are used in a wide range of consumer products, from iPhones to electric car motors, as well as military jet engines, satellites and lasers.
The U.S. House of Representatives Judiciary Committee said on Monday it had started a bipartisan investigation into competition in digital markets.
Mexico on Monday said it would reject a U.S. idea to take in all Central American asylum seekers if it is raised at talks this week with Trump administration, which has threatened to impose tariffs if Mexico does not crack down on illegal immigration.
U.S. Commerce Secretary Wilbur Ross said he told Mexican Economy Secretary Graciela Marquez in a meeting on Monday that Mexico must do more to help the United States address illegal immigration.
Apple Inc on Monday launched a "Sign In With Apple" function to rival Facebook and Google web login accounts, drawing a contrast with rivals by stressing protection of users' information.
Apple Inc executives introduced app developers to hardware and software improvements at its Worldwide Developer's Conference 2019 on Monday. Here are some highlights:
Volkswagen AG Chief Executive Herbert Diess met on Monday with the top U.S. trade official, a week before new tariffs are set to hit imported Mexican vehicles, two people briefed on the matter said.
Mexico's Economy Minister Graciela Marquez said on Monday that the tariffs U.S. President Donald Trump has threatened to place on Mexican exports would impact all 50 U.S. states and harm value chains, consumers and trade-related jobs in both nations.
In recent months, business groups have begun to express concern about ongoing trade tensions and the impact frayed relationships may have on the companies' bottom lines.
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Global airlines slashed a key industry profit forecast by 21% on Sunday amid concerns over an expanding trade war and higher oil prices.