Donald Trump expects 'great deal' with China over trade

US said to plan next China tariff wave if Trump-Xi talks fail - report

Stocks dip again on worries about tech, tariffs

Fear that the Trump administration will announce tariffs on all remaining imports from China helped knock US stocks from a strong early gain to another sharp loss Monday.Technology companies sank again after Bloomberg News reported that the U.S.is planning new tariffs if the two sides don't make progress in trade talks next month.Technology and internet companies, industrials and retailers took steep losses as Wall Street's recent bout of volatility continued.

Trump also said he believed "a great deal" on trade can be agreed with China, but warned about new tariffs if the deal is not struck.

World markets are mixed after U.S. President Donald Trump said he might impose more tariffs on Chinese goods, though he said he was ready to strike a "great deal" with Beijing over trade.

China on Saturday denounced Donald Trump's accusation that Beijing is stalling efforts to disarm North Korea as "irresponsible", after the U.S. president said an upcoming trip to Pyongyang by his top envoy had been cancelled due to lack of progress on the issue. "We are seriously concerned about this", Chinese foreign ministry spokesperson Lu Kang said in a statement posted on the ministry's website. The Shanghai Composite index rebounded 1.2 percent to 2,573.33 and South Korea's Kospi picked up 1.3 percent to 2,021.82.

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Oil prices fell more than 1 percent in choppy trading on signs of rising supply and concern global economic growth and fuel demand would be hit by a deepening of the U.S. The Russell 2000 index of smaller-company stocks fell 6.51 points, or 0.4%, to 1,477.31.

Panic cooled somewhat in the last 15 minutes of trading as the Dow pared losses to end the day down 245.39 points, or 1 percent, at 24,442.92 while the S&P 500 shed 0.7 percent. The cause of the conflict was the desire of Donald trump to reduce the USA negative trade balance with China.

The ambassador made no specific remarks about the current trade stand-off between the U.S. and China.

"We don't see the trade war being resolved any time soon", said Rabobank's senior macroeconomic strategist Teeuwe Mevissen. They've been taken out an average of USD500 billion a year for many years.

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Germany's DAX rose 1.2% as Volkswagen, Daimler and BMW made big gains.

Boeing, which saw its stock gain early Monday, became the leading laggard on the Dow, closing down 6.6 percent and suffering its worst day since February 2016. Italy's FTSE MIB index rose 1.9% after Standard & Poor's did not downgrade its credit rating. The contract dropped 55 cents to settle at $67.04 a barrel in NY.

USA crude fell 1.06 percent to $66.33 per barrel and Brent was last at $76.30, down 1.34 percent. The yen edged lower after the Bank of Japan left its monetary stimulus unchanged and kept its 10-year bond yield target at about zero percent.

The dollar rose to 112.35 yen from 111.85 yen.

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