European shares posted limited losses after a fresh sell-off on Wall Street, which has now entered a correction with the benchmark S&P 500 and Dow industrials falling more than 10 percent from their Jan. 26 record highs.
First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports – largely banned by Washington until just two years ago - challenge the last region OPEC dominates: Asia.
Last July, U.S. President Donald Trump stood beside his Polish counterpart, Andrzej Duda, in Warsaw and promised to help wean the nation off Russian energy imports. He offered U.S. fuel as an alternative, “so that you can never be held hostage to a single supplier.”
U.S. semiconductor company Qualcomm rejected Broadcom revised $121 billion buyout offer, but proposed meeting its peer to see whether they can address what it called the bid’s “serious deficiencies in value and certainty.”