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Live Economic News: India, US To Find Ways To Solve Trade Problems

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LatentView Analytics is now listed on the stock exchange. India’s benchmark stock indexes fell nearly 2% on Monday after a string of unfavorable news over the weekend. Paytm extended its losses for the second day after making a weak start last week while Reliance came across news that it would reassess the deal with Saudi Arabia’s Aramco.

10:00 AM

India and the United States to find ways to solve trade problems

India and the United States have agreed to seek ways to resolve disputes over market access and digital commerce as U.S. Trade Representative Katherine Tai visits India for two days.

New Delhi and Washington have not reached a conclusion on several issues, including tariffs, for more than a year.

The two countries agreed to relaunch their Trade Policy Forum after a four-year hiatus on hopes the forum could help develop bilateral trade that has never seemed to live up to its potential.

9:26 a.m.

Market update | Sensex dips more than 650 points, Nifty below 17,250

India’s benchmark stock indexes opened on a negative note after falling nearly 2% on Monday. As of 9:23 am IST, the Sensex was down 670.83 points or 1.15% to 57,795.06 and the Nifty was down 195.70 points or 1.12% to 17,220.85.

Asian stocks were mostly down on Tuesday after US President Joe Biden picked Federal Reserve Chairman Jerome Powell for a second term, raising expectations that the United States will soon cut its stimulus package.

The MSCI index of Asia-Pacific stocks outside Japan fell 0.49%, while Hong Kong’s Hang Seng index and Chinese benchmark CSI300 opened 1.1% and 0.2% less.

The Australian S & P / ASX 200 outperformed with a gain of 0.55% as Japanese markets were closed for a public holiday.

9:15 a.m.

Oil drops on expectation that countries will draw on emergency crude reserves

Oil prices have fallen on rumors that the United States, Japan and India will release crude reserves despite the threat of declining demand as COVID-19 cases increase in Europe.

US West Texas Intermediate (WTI) crude futures fell 0.6% to $ 76.32 per barrel and Brent crude futures fell 0.4% to $ 79.40 the barrel.

The US Department of Energy is expected to lend petroleum from the Strategic Petroleum Reserve, and the same will be coordinated with other countries.

—- Edited by John Xavier

(With contributions from Reuters, PTI, and other news agencies.)

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