Published: Чт, Апреля 05, 2018
Finance | By Jaime Brady

China Tariffs Weigh On Stocks Early, But Indexes Reverse Sharply Higher

China Tariffs Weigh On Stocks Early, But Indexes Reverse Sharply Higher

China announced before markets opened Monday that it would impose a 15 percent tariff on more than 120 goods imported from the US, including pork, fruit and nuts.

Stocks closed sharply lower on Wall Street as technology companies took heavy losses and investors anxious about escalating trade tensions with China. Meanwhile, the S&P 500 Index (SPX) is back above its 200-day moving average, as food names lead a rally in consumer discretionary stocks - specifically, with meat producers higher on Beijing's plans to tax soybeans.

The Dow Jones Industrial Average rose 231 points, or 1%, to 24,264. The Russell 2000 index of smaller-company stocks fell 34 points, or 2.3 percent, to 1,494.

A selloff in technology majors deepened on Monday, wiping out the tech-heavy Nasdaq index's gains for the year and pushing the benchmark S&P 500 below a closely watched technical level for the first time in almost two months.

The Dow Jones Industrial Average dropped just over 1 per cent on Wednesday as big US manufacturers and chipmakers bore the brunt of a deepening trade conflict between China and the United States.

Ford, General Motors, Fiat Chrysler and Tesla fell between 0.8 percent and 1.88 percent. It dropped 2.2 percent a day earlier.

Traders react as they work on the floor of the New York Stock Exchange in New York, U.S., April 4, 2018. "I don't know what will happen the rest of this week, but as we get into earnings season, I do think it will help the market".

The key pillars of the bull market - free trade, tech stock leadership and record-low borrowing costs - are being called into question.

Читайте также: Villanova head coach Jay Wright thanks the Philadelphia Eagles

The Dow Jones industrial average climbed 130 points, or 0.5 percent, to 23,775.

Microsoft, Nvidia and the so-called FAANG stocks of Facebook,, Apple, Netflix and Google parent Alphabet are responsible for roughly half the market's gains since the 2013 "taper tantrum", says Barry Bannister, head of institutional equity strategy at Stifel Nicolaus. Amazon was the target of another Twitter attack by President Donald Trump.

Amazon fell another $70.84, or 4.9 percent, to $1,376.50. They forecast the largest group by weighting in the S&P 500 to increase profit by 25 percent in the period, with chipmakers pushing profits higher by 31 percent.

U.S. stocks rallied in afternoon trading, reaching positive territory after plummeting earlier amid reports that China is planning to retaliate against the United States in an escalating trade conflict that has investors around the world on edge.

Investors absorbed the latest blows in the tit-for-tat trade war between the United States and China. Futures pointed to losses of more than 2% for the Nasdaq and Dow.

US crude fell $1.81 to $63.13 per barrel and Brent was last at $67.88, down $1.46 on the day.

The yield on the benchmark 10-year US Treasury note edged up to 2.788% from 2.784% on Tuesday.

Copper rose 2 cent to $3.05 a pound.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2018 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Like this: