General Secretary of the Communist Party of China (CPC) Central Committee and Chinese President Xi Jinping held a welcome ceremony for General Secretary of the Lao People's Revolutionary Party (LPRP) Central Committee and Lao President Thongloun Sisoulith outside the east gate of the Great Hall of the People in Beijing on Friday afternoon.
At the welcome ceremony, a military band performed the anthems of Laos and China, respectively.
A 21-gun salute was fired at the Tian'anmen Square.
Thongloun, accompanied by Xi, reviewed the Guard of Honor of the Chinese People's Liberation Army.
The two heads of state then returned to the reviewing stand to watch a march-past performed by the Guard of Honor.
Thongloun's entourage included his wife Naly Sisoulith; Sisay Leudetmounsone, a member of the Political Bureau of the LPRP Central Committee, a member of the Party Central Committee Secretariat and head of the LPRP Organisation Commission; Saleumxay Kommasith, a member of the Political Bureau of the LPRP Central Committee and Standing Deputy Prime Minister of Laos, among others.
Xi's wife Peng Liyuan, Foreign Minister Wang Yi, also a member of the Political Bureau of the CPC Central Committee and director of the Office of the Foreign Affairs Commission of the CPC Central Committee, and other Chinese officials also attended the welcome ceremony.
At the invitation of Xi, Thongloun is paying a state visit to China from Tuesday to Saturday.
Xi holds welcome ceremony for Lao top leader Thongloun
Xi holds welcome ceremony for Lao top leader Thongloun
Xi holds welcome ceremony for Lao top leader Thongloun
U.S. stocks ended sharply lower on Friday, as a stronger-than-expected May jobs report heightened bets on a potential Federal Reserve rate hike later this year.
The Dow Jones Industrial Average fell 695.15 points, or 1.35 percent, to 50,866.78. The Standard and Poor's 500 sank 200.57 points, or 2.64 percent, to 7,383.74. The Nasdaq Composite Index shed 1,121.53 points, or 4.18 percent, to 25,709.43.
Six of the 11 primary Standard and Poor's 500 sectors closed in negative territory, with technology and consumer discretionary leading the declines at 5.78 percent and 2.43 percent, respectively. Consumer staples and utilities were the top performers, rising 1.64 percent and 0.8 percent, respectively.
The U.S. Bureau of Labor Statistics reported that employers added 172,000 jobs in May, exceeding economists' expectations of around 88,000. The unemployment rate held steady at 4.3 percent.
While the strong labor market data underscored economic resilience, it also raised concerns about persistent inflation and reduced the likelihood of near-term monetary easing.
Traders now price in a Federal Reserve rate hike by the end of this year. According to the CME FedWatch Tool, the probability of interest rates rising by year-end jumped to 72.7 percent on Friday, up from 50.5 percent the previous day. This shift came even as U.S. President Donald Trump continued to press for interest rate cuts while his nominee, Kevin Warsh, assumed leadership of the Federal Reserve.
Market volatility intensified this week as investors took profits after recent rallies and adjusted expectations for Fed policy. The CBOE Volatility Index, Wall Street's fear gauge, surged over 30 percent to its highest level in two months.
In the technology sector, concerns over the artificial intelligence investment boom persisted. Broadcom continued to plummet following its disappointing earnings forecast earlier in the week, while Micron Technology, Advanced Micro Devices, and Intel also posted notable losses.
U.S. stocks tank as strong jobs report fuels rate-hike expectations
