Dow drops for 6th day, erases 2018 gain as trade fears escalate

U.S. stocks closed lower on Tuesday, after President Donald Trump threatened to slap tariffs on up to $ 400 billion worth of China goods, the latest escalation in a trade dispute that has been unsettling investors for months.

The Dow Jones Industrial Average fell 1.2% to 24,669. The blue-chip average, which is closely correlated to trade issues as it is primarily made up of huge multinational stocks, suffered its biggest one-day drop since May 29. That was enough to completely erase its 2018 gains; it is now down 0.1% for the year. Tuesday also represented the Dow’s sixth straight daily drop, its longest such streak since March 2017.

The S&P 500 fell 0.4% to 2,762. The Nasdaq Composite Index fell 0.3% to 7,726. Among specific stocks, Boeing Co. tumbled 3.8% while Caterpillar Inc. was down 3.6%. 3M Co. shed 2.4%.

Source: Marketwatch

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Dow erases the bulk of 510-point tumble on gains in Apple, IBM, UnitedHealth stocks

The Dow Jones Industrial Average Wednesday afternoon wiped away the lion’s share of an opening 510-point drop as shares of Apple Inc. UnitedHealth Group Inc. and International Business Machines Corp. helped limit blue-chip losses.

The Dow most recently was off 70 points, or 0.3%, at 23,957. Shares of Apple, UnitedHealth and IBM were among the best point gainers for the price-weighted equity gauge. The Dow had been down by as much as 2.1%, with Wall Street attributing the decline to mounting concerns about a full-fledged trade war erupting between China and the U.S. Those fears reemerged after China proposed retaliatory tariffs on 106 U.S. imports, including soybeans and airplanes, among others.

The S&P 500 index was trading in positive territory at 2,615, after also opening sharply lower, while the Nasdaq Composite Index was up 0.3%, also erasing a sharp initial plunge.

Source : Market Watch

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Stock market erases gains; Nasdaq’s 77-day win streak in jeopardy

Early gains on Wall Street fizzled out with the S&P 500 and Nasdaq Composite trading in negative territory on Tuesday as tech and energy sectors came under pressure.

Stocks earlier shook off President Donald Trump’s decision to replace Secretary of State Rex Tillerson, choosing Central Intelligence Agency Director Mike Pompeo to take over the role.

Stocks rallied earlier after closely watched consumer-inflation data was in line with expectations, helping to placate worries rising prices would hasten interest-rate hikes by the Federal Reserve.

The S&P 500 index was down 0.4% at 2,773. Losses in the energy, technology and financials sectors outweighed gains in the rest of the market.

The Dow Jones Industrial Average % which earlier was up as much as 181 points, fell 101 poitns, or 0.4%, to 25,077. General Electric, American Express and Microsoft Corp were leading the losses.

The Nasdaq Composite Index retreated from an intraday record high set earlier, to trade 64 points, or 0.8%, lower at 7,524. If the index closes lower, it will break a seven-day winning streak.

Source: Marketwatch

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Sumber : bpfnews.com

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