European stocks are set to open lower Wednesday after U.S. Federal Reserve officials tempered expectations of an imminent cut to interest rates.
Investors worldwide are also awaiting the
between U.S. President Donald Trump and Chinese President Xi Jinping on Saturday at the G-20 summit in Osaka, in the hope that the world's two largest economies will at least agree a ceasefire on escalating trade tariffs.after Powell reiterated the central bank's "independence" in a speech, and issued a warning about policy caving to "short-term political interests" amid pressure from President Trump to cut rates.
In corporate news, Reuters reported Tuesday that rural U.S. telecom carriers dependent on Chinese giant Huawei for network gear are in discussions with European rivals Ericsson and Nokia as possible replacements.
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