Stocks slide on doubts over U.S.-China trade progress

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul South Korea Monday Oct. 7 2019. Asian shares were mixed Monday following a healthy report on U.S. jobs while investors cautiously awai

The United States and China have slapped tariffs on each other's goods as part of a long-running dispute over Beijing's trading practices, which Washington says are unfair.

Wall Street ended a choppy week of trading with a broad rally on mostly positive data that drove the Dow Jones Industrial Average more than 370 points higher.

On Monday morning, Kudlow answered "no" when asked if the president's call for China to investigate Joe Biden ever came up during trade discussions between the two countries.

Kudlow added that Chinese negotiators have been a "little more cooperative recently" as they have recently purchased USA agricultural products like soybeans, pork and wheat.

The White House officially confirmed that the high-level talks, involving Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin, would begin on Thursday.

Reduced-level talks have been underway since past thirty day period.

Trump in recent months has claimed that China's weakening economy puts Beijing under pressure to make a deal.

The U.S. Federal Reserve reported consumer credit increased more than expected in August with Americans owing $17.9 billion more than they did in July.

A strong jobs market would enable US households to keep spending, supporting the economy at a time when slowing growth overseas poses a threat and President Donald Trump's trade war with China is sapping exports and manufacturing.

Ahead of this week's trade talks between the world's two largest economies, there were reports that Chinese officials are growing hesitant to pursue a broad trade deal with the U.S.

"The delisting is not on the table".

Trade talks between the USA and China are in progress and are set to resume Thursday, as the two sides continue to work toward an agreement on a multitude of issues, the White House announced Monday.

Vice Premier Liu He, who will lead negotiations for China, told dignitaries that his offer to the USA will not include commitments on reforming Chinese industrial policy or government subsidies, Bloomberg reported Sunday, citing sources familiar with the matter.

Markets have had their hopes pared back, and as a result, even a partial deal might be enough "to help keep things on track", he said. Hong Kong was also shuttered for a holiday, leaving traders with limited options to respond - or not - to escalating violence in the city, where protesters set fires and vandalized train stations and banks over the weekend.

The major Asia Pacific stock indexes finished mixed on Monday as investors shifted their focus away from the US economy and on to the renewed U.S. These are among the Trump administration's main demands in the trade talks.