Stocks fall to session lows after US cancels trade meeting with Chinese officials

Source: CNBC

Stocks fell on Tuesday, the first trading day of the week, as weak data out of China and lower global growth estimates from the International Monetary Fund renewed fears of the global economy slowing down.

The Dow Jones Industrial Average dropped 400 points, led by losses in DowDuPont and Caterpillar. The S&P 500 pulled back 1.6 percent as the energy and industrials sectors lagged. The Nasdaq Composite declined 1.9 percent.
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"That's confirmation of what we're concerned about. The last thing we need is have actual data confirming our greatest fears," said Art Hogan, chief market strategist at National Alliance. "Now, is some of that tied to trade talks with China and could some of that dissipate if we have a deal done? Absolutely, but it's impossible to untangle those two things right now. That's our reality."




Read more: https://www.cnbc.com/2019/01/22/us-markets-global-economy-us-china-trade-in-focus-.html