· U.S. stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled markets and put the Dow Jones Industrial Average back in negative territory for the year.
“Investors are waking up to the idea that all the rhetoric on trade could be more than just a negotiating tactic,” said Emily Roland, head of capital markets research at John Hancock Investments in Boston.
· The Dow Jones Industrial Average fell 287.26 points, or 1.15 percent, to 24,700.21, the S&P 500 lost 11.18 points, or 0.40 percent, to 2,762.57 and the Nasdaq Composite dropped 21.44 points, or 0.28 percent, to 7,725.59.
The three major indexes pared losses from earlier in the session. The Dow briefly dropped below its 100-day moving average but rebounded, though the index ended the session below its 50-day moving average.
Given the escalating rhetoric on trade, some investors said the slide in U.S. stocks was relatively small.
· Asian stocks edged higher on Wednesday, with major regional markets stemming sharp losses made in the previous session that were caused by elevated fears of a trade war between the U.S. and China.
The Nikkei 225 edged higher by 0.27 percent as consumer and utilities names gained in morning trade. Pharmaceuticals stocks were up 1.12 percent and the Topix foods subindex rose 1.23 percent, leading gains in the early going.
Over in South Korea, the Kospi rose 0.75 percent. Among index heavyweights, Samsung Electronics rose 1.17 percent and steelmaker Posco gained 2.21 percent.
Reference: Reuters, CNBC
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