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S&P 500 slips ahead of US-China trade talks

  • On May 9, the S&P 500 experienced a slight decline of less than 0.1% as investors anticipated the upcoming U.S.-China trade negotiations scheduled for that weekend in Switzerland.
  • Trade tensions persisted after President Trump unexpectedly suggested lowering the current 145% tariff on Chinese goods to 80%, causing market uncertainty.
  • Regional markets showed mixed moves with Abu Dhabi falling 0.1% to 9,626, driven by declines in Aldar Properties and First Abu Dhabi Bank despite gains in Abu Dhabi Ports Company.
  • Oil prices rose nearly 2%, with Brent Crude at $64.08 a barrel, supporting Gulf economies amid signs of easing trade frictions and upcoming inflation data from China.
  • The market awaits trade talks’ results that could influence economic growth projections and investor confidence into Monday's open and beyond.
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Zawya broke the news in on Friday, May 9, 2025.
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