Stocks open lower on Wall Street ahead of US tariff deadline
Tuesday, 10 December 2019 NEW YORK (AP) — Major stock indexes are opening lower on Wall Stret ahead of a U.S. tariff deadline on Chinese imports this weekend. Investors expect President Donald Trump to put off or scrap the tariff increase but talks on an interim “Phase 1” agreement announced in October have failed to agree on details. Investors are also watching the outcome of Britain's general election on Thursday. The S&P 500 fell 3 points, or 0.1%, to 3,132. The Dow Jones Industrial Average slipped 38 points, or 0.1%, to 27,867. The Nasdaq lost 4 points, or 0.1%, to 8,617. Bond prices rose, sending yields lower.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Stock markets around the world fell sharply Tuesday as nervous investors watched a rapidly approaching deadline for more U.S. tariffs on Chinese imports.
Markets also have their eyes on American and European interest rate decisions coming this week and the outcome of Britain's general election on Thursday amid uncertainty over plans to leave the European Union.
Benchmarks in London and Frankfurt were down in midday trading. Tokyo and Hong Kong finished with losses while Shanghai closed higher after spending most of the day in negative territory. Wall Street appeared set to open lower.
Washington is due to impose new tariff hikes Sunday on $160 billion of Chinese goods in a fight over Beijing's technology ambitions and trade surplus.
Investors expect President Donald Trump to put off or scrap the increase but talks on an interim “Phase 1” agreement announced in October have failed to agree on details.
“All hell could break loose if the tariffs don't get postponed,” said Stephen Innes of AxiTrader in a report. That would tell investors "they have yet again been taken down the trade talk garden path...
Wall Street's main stock indexes ended slightly lower on Tuesday, though not far from record highs, as investors awaited concrete news on whether a new round of U.S. tariffs on Chinese goods would take effect on Dec. 15, a potential turning point in a trade dispute between the world's two largest...
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