Morgan Stanley analysts warned that a collapse of the trade talks and a lasting breakdown with higher tariffs on all United States-China trade would push the global economy towards recession [File: Brendan McDermid/ Reuters]

Worries that the United States and China were digging in for a longer, costlier trade war weighed on financial markets on Monday as Beijing accused Washington of harbouring “extravagant expectations” for a deal to end their dispute.

Investors added up the costs of higher tariffs on Chinese and US goods as well as the effects of severe US restrictions on China’s Huawei Technologies for the US technology sector, sharply driving down shares of suppliers Qualcomm, Micron Technology, Inc and Broadcom Inc.

Apple Inc shares fell 3.3 percent, hurt by

Read More At Article Source | Article Attribution