Markets Right Now: Stocks fall on fresh worries over trade

Markets Right Now: Stocks fall on fresh worries over trade Photo: AP

June 19, 2018 03:21 PM

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4:00 p.m.

Advertisement

The Dow Jones industrial average is closing with its sixth straight loss Tuesday as worries about a U.S.-China trade dispute hit stock indexes around the globe.

The Dow is down 287 points, or 1.1 percent, to 24,700. Big industrial companies that are part of the index, such as Boeing and Caterpillar, suffered steep losses.

The S&P 500 index is off by 11 points, or 0.4 percent, to 2,762. The Nasdaq composite is down 21 points, or 0.3 percent, to 7.725.

The global sell-off came after President Donald Trump threatened to put tariffs on another $400 billion in imports from China, and the Chinese government said it would retaliate.

Investors sought safer investments, such as high-dividend companies like utilities and companies that make and sell household goods. They also favored bonds.

___

12:05 p.m.

Stocks are trading lower at midday Tuesday on fresh worries about a trade dispute between the U.S. and China, although they've recovered somewhat from an early slump.

The Dow Jones industrials are down 291 points, or 1.2 percent, to 24,697, after dropping more than 400 points in morning trading.

The S&P 500 is lower by 16 points, or 0.6 percent, at 2,756, and the Nasdaq composite is down 61 points, or 0.8 percent, to 7,685.

Big industrial companies and chemical makers are hard hit. Aerospace giant Boeing fell 3.4 percent and DowDuPont slipped 3.3 percent.

Chinese companies listed in the U.S. took sharp losses. Search engine Baidu dropped 3.6 percent.

Commodities also sold off on trade concerns. Oil and copper each dropped 1.5 percent. Soybean futures sank 3.2 percent.

___

9:35 a.m.

U.S. stock markets are opening sharply lower Tuesday as tensions over trade between the U.S. and China seem closer to a boil.

The Dow Jones industrials are down 318 points, or 1.3 percent, to 24,668.

The S&P 500 index and the Nasdaq composite are also lower.

President Donald Trump is calling for tariffs on $200 billion in Chinese imports, drawing a rebuke from China. Last week, the U.S. levied tariffs on $34 billion of Chinese goods. China threatened to retaliate, leading Trump to propose broader penalties.

International markets slumped, with China-focused stocks hard hit. The Shanghai Composite Index fell 3.8 percent and Hong Kong's Hang Seng lost 2.8 percent.

Bond prices are rising, sending rates lower. The yield on the U.S. 10-year Treasury fell to 2.89 percent from 2.92 percent.

___

9:10 a.m.

U.S. stock markets are set for a sharply lower open as tensions over trade between the U.S. and China seem closer to a boil.

Futures are showing the Dow Jones industrials and S&P 500 each headed for a decline of at least 1 percent.

President Donald Trump is calling for 10 percent tariffs on $200 billion in Chinese imports. Last week, the U.S. levied tariffs of 25 percent on $50 billion of Chinese goods. China threatened to retaliate, leading Trump to seek broader penalties.

International markets slumped, with China-focused stocks hard hit. The Shanghai Composite Index fell 3.8 percent and Hong Kong's Hang Seng lost 2.8 percent.

Bond prices are rising, sending rates lower. The yield on the U.S. 10-year Treasury fell to 2.88 percent from 2.92 percent.

Credits

(Copyright 2018 by The Associated Press. All Rights Reserved.)

Advertisement

Missing Boy in Dodge County Found Dead

Pleasant Weather Continues Wednesday

St. Paul Constructing New $10M Recreation Center in Frogtown

From Jail, St. Paul City Council Candidate says ‘He’s Staying in Race’

Hundreds of Openings at MSP International Airport Job Fair

Family of St. Cloud Cyclist Killed During Race Asks Drivers to Pay Attention to Road

Advertisement