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The U.S. and China exchanged barbs over which nation wrecked trade negotiations, deepening divisions that have laid bare a breakdown in trust between the world’s two largest economies.

The latest signs of factory weakness — in countries including South Korea, Germany and Japan — underscore the growing threat to the world economy posed by the escalating U.S.-China trade war. The reports came amid a fresh warning from Wall Street about recession risks.

FedEx Corp. shares dropped as investors assessed the impact of a Chinese probe that puts the delivery company in the middle of an escalating trade conflict with the U.S.

President Donald Trump’s intensifying trade war with China dented air cargo traffic even before FedEx Corp. got dragged into the brawl, as companies worldwide reconfigure their supply chains in the face of increasing tariffs.

Tesla Inc. started taking orders for Model 3 cars to be made in China, lowering prices for the vehicle as it seeks to double down on a market it expects to drive future growth and revenue.

China, the world’s largest soybean buyer, has put purchases of American supplies on hold after the trade war between Washington and Beijing escalated, according to people familiar with the matter.

The U.S. merchandise-trade deficit widened for a second month to the highest level since a record in December as exports dipped.

FedEx Corp.’s reported practice of rerouting Huawei parcels to the United States without the Chinese company’s authorization demonstrates that the U.S. government is leaving no stone unturned to disrupt normal business activities, analysts said May 28.

Tesla Inc. is getting close to revealing new prices for the Model 3 in China as it nears local manufacturing of the car.

Economists expect the trade war between the world’s two largest economies to get worse before it gets better — culminating in a deal by year-end.