Markets in tailspin amid fears US-China trade deal is in peril

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Asian markets plunge after Trump comments about trade deal delay made worse by possible Xinjiang sanctions

Global financial markets have gone into a tailspin amid mounting concern that the US and China are not going to conclude an interim trade agreement before a new set of American tariffs hit Chinese goods on 15 December.

Asian markets saw heavy selling on Wednesday after Donald Trump said a trade deal could wait until next year’s presidential election, scotching widely held expectations that he was ready to give the go ahead for an agreement.

Related: Trump says China-US trade deal could wait until after 2020 election

The markets feel like trade talks are on a shot-clock now: December 15 being when the buzzer blows

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