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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Nikkei erases early losses on hopes for new US-China trade talks

Japan’s Nikkei erased losses on Thursday morning following news of coming talks between China and the United States, which raised hopes of an easing of their trade war and made the yen weaken.

The Nikkei share average was up 0.1 percent to 22,234.19 at the midday break. It had been in negative territory before China’s commerce ministry said Vice Minister Wang Shouwen will hold talks in Washington in late August.

At the break, the broader Topix slumped 0.4 percent to 1,690.91, after touching its lowest level since late March.

The dollar was slightly up against the yen at 110.82, compared to 110.47 in early Asian trade, after China’s announcement.

Reuters

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Nikkei Erases Gains, Hits Near 3-Month Lows on Trade War Anxiety

Japanese shares snapped back into the red from a modest bounce early on Tuesday, briefly touching near three-month lows on growing worries a trade row between the United States and China could harm the economy and corporate earnings.

Nikkei average ended the morning trade almost flat at 21,805.73, having dropped 0.4 percent at one point to 21,722.23, its lowest level since mid-April. The broader Topix ended the morning 0.09 percent higher at 1,696.88.

The market erased earlier gains after Hong Kong shares tumbled more than 3 percent ahead of a July 6 deadline, when the Washington is set to impose tariffs on $ 34 billion worth of Chinese exports to the United States.

Source : Reuters

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