Stocks drop amid fading hopes around China trade talks

Stocks fell Tuesday as investor optimism around the upcoming U.S.-China trade talks faded.

The Dow was down 300 points, while the S&P 500 and Nasdaq dropped 1.2%.

Bank shares fell broadly. Citigroup, Bank of America and J.P. Morgan Chase slid more than 2% each as rates declined. The benchmark 10-year Treasury yield traded at 1.51%. The S&P 500 industrials sectors pulled back more than 1%, led by declines in Caterpillar and Deere. Boeing also contributed to the losses, sliding more than 1.5%.

Big tech shares such as Facebook, Amazon, Apple and Alphabet declined as well. Semiconductor stocks dropped sharply as the VanEck Vectors Semiconductor ETF (SMH) traded 2.6% lower, on pace for its worst day since Aug. 23. Nvidia, On Semiconductor and KLA Corp. were among the biggest decliners in the SMH.

https://www.msn.com/en-us/money/markets/stocks-drop-amid-fading-hopes-around-china-trade-talks/ar-AAIo6YL?li=BBnb4R7