S&P 500, Nasdaq Log 4th Loss in a Row, Dow Erases Weekly Gain as China Tariff Spat Spooks Wall Street
U.S. stocks ended the day and week lower on Friday after President Donald Trump said the U.S. had tariffs ready to go on another $ 267 billion in Chinese goods, on top of tariffs on $ 200 billion in goods the administration is now preparing.
The Dow Jones Industrial Average finished the session off by about 80 points, or 0.3%, at 25,916 and closed the Labor Day-abbreviated week with a loss of 0.2%. The S&P 500 index finished the session down 0.2% at about 2,872, and marked a weekly decline of 1%, while the Nasdaq Composite Index wrapped up the session off 0.3% at 7,902, helping to cap its worst weekly slide, off 2.55%, since the period ended March 23, according to FactSet data.
Friday’s fall marked the fourth straight drop for the S&P 500 and the Nasdaq. Concerns about trade disputes between the U.S. and China and tense discussions with Canada to revamp the North American Free Trade Agreement dominated headlines all week and weighed on investors’ sentiment, and dragged the technology sector into the red, market participants said. Trade anxiety overshadowed a mostly strong report on employment. The Labor Department’s closely followed jobs report on Friday showed that 201,000 jobs were added in the month of August, slightly better than what had been expected by analysts. The unemployment rate held steady at 3.9%.
Source : Marketwatch
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Sumber : bpfnews.com