Bonds & Stocks
Wall Street returned from a long weekend to renewed anxiety over frothy technology stocks and stretched government budgets. Global bonds staged a broad retreat and gold briefly touched an all-time high. Nasdaq 100 futures dropped 1.3%, deepening the tech-driven selloff that closed out last week. Nvidia Corp. led premarket losses among the Magnificent Seven, retreating 2.4%.
Economy
President Donald Trump said India offered to cut tariffs, while New Delhi signaled it’s continuing to negotiate a trade agreement with the US, indicating both sides are keeping the door open to resolving tensions. Trump said in a social media post on Monday that India offered to reduce its tariffs on US goods to zero, without saying when the concession was made. He added that “it’s getting late” and India should have made the offer “years ago.”
World
President Xi Jinping used a mix of bonhomie and economic allure this week to send Donald Trump a clear message: Beijing has too much global clout to be dictated by the US. Cameras captured the Chinese leader in a rare, unscripted huddle on Monday with Vladimir Putin and Narendra Modi — his most powerful partners in resisting America on the world stage — at a summit in the Chinese port city of Tianjin.