Markets were mixed on Monday.
The S&P 500 dipped 0.1 percent and the STOXX Europe 600 fell 0.5 percent but the Shanghai Composite rose 1.2 percent.
Markets gave up some of the gains made after an announcement on Friday that the US and China had reached a partial agreement on trade.
“There was concern optimism might be premature,” said John Carey, a portfolio manager and director of US equity income at Amundi Pioneer Asset Management.
Nevertheless, JP Morgan analyst David Kelly suggested that “the fact that the negotiators were so anxious to announce a deal suggests that both sides now appreciate the damage being done to their economies by the conflict” and “probably reduces the risk of a re-escalation of the war in the months ahead”.
Indeed, Chinese customs data released on Monday showed that in US dollar terms, Chinese exports fell 3.2 percent in September from the previous year while imports declined 8.5 percent.
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