(Saltwire) The dollar slid and the three-day global stock market rally paused on Wednesday as U.S. productivity data disappointed and investors turned a bit cautious about U.S.-China trade talks.
Investors said lingering concerns about the U.S.-China trade talks had stock markets consolidating gains made recently.
“What you saw over the last two days is a bit of confusion on the China phase one deal … and that started affecting risk appetite,” said Juan Perez, a senior currency trader at Monex Inc in Washington.
Traders and investors hope a preliminary deal will roll back at least some of the punitive tariffs Washington and Beijing have imposed on each other’s goods. But it remained uncertain when or where U.S. President Donald Trump will meet Chinese President Xi Jinping to sign an agreement.
