Shares of Oxford Industries were falling Thursday after the company slashed its fiscal-year outlook due to increased tariff costs, leading analysts to caution investors about the challenging economic environment.

U.S.-listed Chinese stocks, including Alibaba, Baidu, JD.Com, and PDD Holdings, are trading lower as Trump confirms a China trade deal.

Stocks haven’t been this expensive relative to bonds in almost 25 years. Is a market downturn next?

Asian shares are trading mixed after Wall Street’s rally stalled. Investors appeared not to react much to the results of the latest round of China-U.S. trade talks.

The number of Chinese companies on the Global 2000 has dropped from a peak of 351 in 2022 to 317 this year. Sluggish domestic consumption and the prospect of a U.S.-China trade war is already taking its toll among Chinese companies.

After two days of talks in London, the U.S. and China late Tuesday agreed on what they called a framework to get a May trade truce back on track. Investors yawned, with U.S. stock-index futures a shade lower Wednesday morning.

Trump’s tariffs and the latest trade deal with China continue to affect global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Stock index futures traded in the red on Wednesday, as investors awaited details on a trade framework over trade disputes agreed upon by the U.S. and China and the retail inflation data. S&P 500 futures (SPX) -0.