US stocks halt 4-day win streak as latest China tariffs

US stocks snapped a four-session winning streak Wednesday after the Trump administration announced new tariffs on Chinese goods, further escalating tensions between the two largest economies in the world, which some investors fear could morph into a full-on trade war.

The Dow Jones Industrial Average slumped 219.21 points, or 0.9%, to 24,700.45.

The S&P 500 fell 19.82 points, or 0.7%, to 2,774.02. Only 1 of the 11 primary S&P 500 sectors closed in the green, with materials and the industrial sectors, both of which are seen as sensitive to trade issues, among the biggest losers. The energy sector also weighed on the market, tumbling more than 2% alongside a steep drop in the price of crude-oil futures. The utilities sector, up 0.9%, was the sole gainer.

The Nasdaq Composite Index shed 42.59 points, or 0.6% to 7,716.61.

Source : Marketwatch

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S&P 500, Dow try to halt 3-session skid, as trade-war fears linger

U.S. stock-market indexes struggled to push higher in early Thursday trade as worries over President Trump’s protectionist stance against trading partners outweighed a flurry of solid economic data.

Economic releases on Thursday on jobless claims and manufacturing data indicated the domestic economy remained healthy.

The Dow Jones Industrial Average which closed lower for three straight session struggled to stay in positive territory. The blue-chip index was up 70 points to 24,828, or 0.3%.

The S&P 500 was flat at 2,751, with roughly half of its main sectors trading lower. The Nasdaq Composite lost ground, falling 5 points to 7,493, a move of less than 0.1%.

Source: Marketwatch

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Asia Stocks Halt Six-Day Rally as Japanese, Korea Shares Slide

Asian equities fell, halting a six-day rally, as futures on the S&P 500 Index traded lower and Japanese shares rounded their first loss in four sessions. South Korean stocks retreated from a two-week high while Hong Kong shares fell after the long holiday weekend.

The MSCI Asia Pacific Index fell 0.8 percent to 176.65 as of 4:54 p.m. in Hong Kong with industrial and consumer staples companies pacing the decline. The gauge rallied 4.4 percent in the previous six trading days, helping valuations rebound from the lowest since April 20, 2017. Futures on the S&P 500 slid as much as 0.5 percent earlier today.

Source : Bloomberg

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