Wall Street closes lower ahead of earnings season

Tuesday, 09. April 2019 22:01

Major stock market indices on Wall Street finished the session on Tuesday in the red as investors brace themselves for the next season of corporate earnings. Banks will kick off first-quarter earnings season later this week, with JPMorgan Chase and Wells Fargo both set to release results on Friday.

Meanwhile, trade tensions continue to rock markets after the US Office of the Trade Representative proposed an introduction of $11 billion worth of tariffs on European goods, prompting the EU to signal possible retaliation if the US decides to act on the proposal.

The Dow Jones Industrial Average fell 0.72% or 190 points, as Caterpillar tumbled 2.48%. Meanwhile, the S&P 500 lost 0.61% with Pentair plummeting over 13% as the worst performer. The Nasdaq 100 declined 0.41% at the end of trading, led lower by Advanced Micro Devices slumping 4.52%. The euro traded flat against the dollar at 3:50 pm ET, buying 1.1264.

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