Stocks fall after China trade officials cut US visit short
Stocks fell Friday on news that Chinese officials were cutting short their visit to the U.S., dampening hope around trade negotiations between the two countries.
The Dow Jones Industrial Average closed 159.72 points lower, or 0.6% at 26,935.07. The S&P 500 pulled back 0.5% to 2,992.09. The Nasdaq Composite dropped 0.8% to 8,117.67.
The major indexes also snapped a three-week winning streak. The Dow and Nasdaq fell 1.1% and 0.7%, respectively, for the week. The S&P 500 lost 0.5% this week.
A China delegation had canceled a visit to U.S. farms in Montana, the Montana Farm Bureau said around midday Friday. Nicole Rolf, the Bureau’s director of national affairs said the officials were headed back to China earlier than planned.
President Donald Trump had said China would increase its purchases of U.S. agricultural products as part of a bilateral trade deal. The cancellation may be seen by some investors as a sign the two countries are no closer to reaching a trade deal.
https://www.msn.com/en-us/money/markets/stocks-fall-after-china-trade-officials-cut-us-visit-short/ar-AAHvUam?li=BBnbfcN
= new reply since forum marked as read
“There are signs that U.S. economic growth is expected to slow in the near horizon. Trade policy uncertainty remains elevated, U.S. manufacturing already appears in recession, and many estimates of recession probabilities have risen from low to moderate levels,”
Is America Great again yet Mister dump?
My guess is that Rump's people made some unreasonable demands and China told them to go piss up a very small rope.
KY.........
