- Reuters/Kevin Lamarque
Here is what you need to know.
Trump is reportedly looking at tariffs on $60 billion of Chinese tech imports. President Donald Trump is seeking to impose tariffs on up to $60 billion of Chinese imports and will target the technology and telecommunications sectors amid a US investigation into intellectual property theft, Reuters says.
Conor Lamb declares victory in Pennsylvania special election. The Democrat has declared victory in a district Trump won by 20 points in 2016, though the race remained too close to officially call early Wednesday without accounting for absentee ballots.
China’s industrial sectors roar back to life. China’s industrial output grew by 7.2% in February compared with the same period a year earlier, making for the fastest growth since June, according to data released by China’s National Bureau of Statistics.
It may take Britain 46 years to pay its Brexit divorce bill. The UK government won’t finish paying its £37.1 billion, or $51.77 billion, Brexit divorce bill until 2064, according to the latest economic forecasts from the UK’s Office for Budget Responsibility.
Barclays strikes payment deal with cryptocurrency exchange Coinbase in the UK. Barclays has agreed to offer Coinbase access to the UK’s Faster Payments Scheme after the cryptocurrency exchange received regulatory approval.
Broadcom has ended its bid for Qualcomm. Broadcom on Wednesday withdrew its bid for Qualcomm after President Donald Trump blocked the chipmaker’s pending acquisition on the grounds of national security, Reuters says. The company is still planing to relocate to the US.
US Steel got whacked. Shares of US Steel fell as much as 8.1% on Tuesday after the company raised its guidance because of Trump’s tariffs but fell short of Wall Street expectations.
Stock markets around the world trade mixed. Japan’s Nikkei (-0.87%) lagged in Asia, and Germany’s DAX (+0.28%) leads in Europe. The S&P 500 is set to open up 0.47% near 2,778.
Earnings reports keep coming. Express and Signet Jewelers report ahead of the opening bell.
US economic data flows. Retail sales and PPI will be released at 8:30 a.m ET. The US 10-year yield is unchanged at 2.84%.