Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
Democratic Rep. Maxine Waters on Tuesday requested that Facebook pause its development of Libra, an upcoming cryptocurrency that the company plans to release in 2020.Technologyread more
Tensions between China and the U.S. are threatening to slow global trade further, threatening some Asian economies.Asia Economyread more
Tesla loses vice president of HR and head of diversity, Felicia Mayo, one of a few black woman executives to break Silicon Valley's glass ceiling.Technologyread more
Union Pacific CEO Lance Fritz tells Jim Cramer that he is optimistic about trade relations with China, Mexico, Japan, and the EU.Mad Money with Jim Cramerread more
The S&P 500 is closing in on its all-time high, and is likely to sail past it, as long as the Fed promises lower interest rates and the trade war calms down.Market Insiderread more
American Airlines pilots plan to tell lawmakers they are still concerned about fixes to grounded Boeing 737 Max planes.Airlinesread more
President Donald Trump on Tuesday announced that he will not nominate acting Defense Secretary Patrick Shanahan to hold the position in a permanent capacity. Army Secretary...Politicsread more
"I do expect our stock market to be hammered if nothing positive comes of this G-20 meeting ... the most likely outcome is nothing happens," Jim Cramer says.Mad Money with Jim Cramerread more
See which stocks are posting big moves after the bell on June 18.Market Insiderread more
* Tech leads Wall Street lower
* China May industrial production growth at 17-year low
* European stocks suffer biggest fall in two weeks
* Spot gold hits 14-month highs (Updates after U.S. market open; changes dateline, previous LONDON, changes byline)
NEW YORK, June 14 (Reuters) - Equity markets struggled and safe-haven assets like gold were in demand on Friday as weak Chinese data stoked investor anxieties over a global growth slowdown and fears of a U.S.-Iran confrontation added to geopolitical uncertainty.
Attacks on two oil tankers in the Gulf of Oman lifted oil prices, although they remained on track for a weekly loss on worries a sluggish world economy could hurt demand.
China's industrial output growth slowed to a more than 17-year low, well below expectations, suggesting Beijing was feeling the sting of the protracted trade spat with the U.S.
"Any time you have weak economic news coming out of China it highlights the fact that the trade tensions are having a negative impact on the global economy," said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC in New York.
"The dollar is strengthening. Its seen as a safe haven. Treasury yields are moving lower. This is all indicative of concerns the global economy is slowing," Pavlik added.
A warning of a broad slowdown in chip demand from chipmaker Broadcom Inc underscored the effects of the U.S.-China tariff dispute, dragging on European as well as U.S. equity indexes.
Tariff-sensitive tech stocks pulled all three major U.S. indexes lower and gold prices hit a 14-month high as investors fled equities for less risky assets.
The Dow Jones Industrial Average fell 18.96 points, or 0.07%, to 26,087.81, the S&P 500 lost 4.11 points, or 0.14%, to 2,887.53 and the Nasdaq Composite dropped 29.82 points, or 0.38%, to 7,807.32.
MSCI's broad gauge of stocks across the globe shed 0.33%, while the pan-European STOXX 600 index lost 0.35%.
EYES ON THE FED
The Federal Reserve is set to hold its two-day monetary policy meeting June 18-19, with investors closely watching its outcome for clarity on expectations for a near-term rate cut.
A Reuters poll showed a growing number of economists expect the Fed to cut interest rates this year, although the majority still expect it to stay on hold.
"There's optimism (Fed Chair Jerome) Powell will come to the rescue on his white horse next week with a dovish statement, not a rate cut yet," Pavlik said. "That's keeping equity losses in check."
Growing worries about a new U.S.-Iranian confrontation set crude prices on a rollercoaster ride, with Brent futures gaining 0.2% to $61.42 per barrel. Brent surged 2.2% on Thursday after the Norwegian- and Japanese-owned tankers both experienced explosions.
The dollar index, tracking the greenback against six major peers, climbed to its highest in a week after encouraging retail sales data for May eased fears that the U.S. economy is slowing sharply, ahead of the Feds meeting next week.
The dollar index rose 0.35%, with the euro down 0.47% to $1.1222.
Short-dated U.S. Treasury yields jumped, flattening the yield curve, after data showed a pick-up in consumer spending that subdued investor fears of rapid economic decay in the second quarter.
Benchmark 10-year notes last fell 1/32 in price to yield 2.0925%, from 2.091% late on Thursday.
Gold pared some gains, but stayed on track for its third straight advance.
Spot gold added 0.4% to $1,347.49 an ounce.
(Reporting by Stephen Culp; Additional reporting by Kate Duguid, Ahmad Ghaddar, Karen Brettell, Karin Strohecker, Sujata Rao and Dhara Ranasinghe in London and Shinichi Saoshiro in Tokyo; Graphic by Saikat Chatterjee; Editing by Bernadette Baum)