Global stocks struggle for direction after S&P 500 hits an all-time high, and traders eye US-China tensions

Reuters

• Global stocks were mixed Wednesday as investors reacted to the S&P 500 closing at its highest level ever on Tuesday.
• Asian stocks slipped after US President Trump said he cancelled trade talks with China last weekend over its handling of the COVID-19 pandemic, further escalating already heightened tensions.
• In Europe, stocks saw small gains, while futures pointed to another up day for the US markets.
• Oil prices moved down a little ahead of a OPEC meeting later today. An output increase of 1.5 million barrels is expected after the meeting, according to analysts.
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Global stocks were mixed on Wednesday, taking a breather from the rally that took the S&P 500 to an all-time high Tuesday, with Asian stocks under particular pressure amid rising US-China tensions. 

US President Donald Trump said Tuesday night that he personally cancelled US trade talks with China. Both countries were due to review their Phase One Trade Deal last Saturday but this was postponed.

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