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

  • On Friday, stock indices in the United Arab Emirates ended the day with minor declines as traders anticipated the upcoming US-China trade negotiations set to take place in Switzerland over the weekend.
  • The trade talks follow prolonged tensions marked by a 145% tariff on Chinese goods, with President Trump indicating a possible reduction to 80%, though uncertainty remains.
  • Abu Dhabi's index fell 0.1% with major firms like Aldar Properties down 2.1% and First Abu Dhabi Bank down 0.8%, while oil prices rose nearly 2% amid easing trade tensions.
  • Brent Crude climbed 1.97% to $64.08 a barrel by 1205 GMT, reflecting optimism linked to the trade talks and oil's importance to the Gulf economy.
  • The outcome of the talks could influence global markets on Monday, as investors watch tariff developments amid ongoing economic uncertainties.
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Zawya broke the news in on Friday, May 9, 2025.
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