Morning Bid: Ship-to-Ship Moves

Container ports have become the latest front in global economic tensions. As U.S.-China negotiations heat up, both nations will begin imposing port fees on ocean shipping companies transporting goods ranging from crude oil to toys.

S&P 500 futures reversed earlier gains to fall as much as 0.4% after China’s commerce ministry issued another sharp statement, saying the U.S. cannot pursue dialogue while simultaneously making threats. This followed President Donald Trump’s Friday announcement of new tariffs on Chinese products starting November 1.

The renewed trade tensions halted a brief stock market rebound that began Monday, sparked by U.S. Treasury Secretary Scott Bessent’s comments that Trump still plans to meet Chinese President Xi Jinping in South Korea later this month.

Asian tech stocks provided temporary support to regional markets after OpenAI announced a partnership with Broadcom to develop its first in-house AI processors. The news lifted Taiwan Semiconductor Manufacturing Co. to record highs, while South Korea’s Kospi climbed 0.9% as Samsung Electronics projected a 32% increase in third-quarter profit, surpassing expectations.

China’s leading automaker BYD rose 1% after insiders told Reuters that Spain has emerged as the frontrunner for its third European car plant.

Meanwhile, the yen strengthened slightly against the dollar after Japan’s finance minister said the country must now adopt a new economic approach that tackles inflation — rather than the deflation that once dominated policy concerns.