Wall Street opens lower despite car tariff delay

Friday, 17. May 2019 15:31

Markets in the United States opened in the red on Friday despite the decision of United States President Donald Trump's administration to delay tariffs on imported cars for six months earlier in the day. The news were overshadowed by the continuing trade spat between the US and China, which accused the former of "petty tricks" and a lack of sincerity in their dealings. In other news, economic data on US consumer sentiment and its weekly oil rig count were set for release after the opening bell.

The Dow Jones Industrial Average recovered slightly from its earlier losses to open 0.77% in the red, with The 3M Company's stock falling by 1.33%. Meanwhile, the Nasdaq 100 was down 0.90%, led by Baidu's stock which nosedived 14.76% after it released its earnings report on Thursday. The S&P 500 also dropped 0.76%.

The euro was flat against the greenback to go for 1.1174 at 9:30 am ET.

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