Wall Street ends lower after US-China trade talks put on hold

Friday, 17. May 2019 22:00

Markets in the United States closed in the red on Friday on fresh trade concerns fueled by reports that the scheduling of the next round of trade negotiations between the US and China was put on hold as a result of Washington's decision to blacklist Huawei and declare a national emergency to protect US information and communications technology and services from foreign espionage. Meanwhile, the US postponed the decision on car tariffs by six months and agreed to remove tariffs on steel and aluminum imports from Mexico and Canada.

The Dow Jones fell 0.38% or just under 100 points. The worst performers were Dow Inc. and Caterpillar, which dropped 4.19% and 3.04%, respectively.

The Nasdaq 100 slid 1.01%. Baidu pulled the index down as its shares plummeted 16.63% after the Chinese company posted an operating loss of $139 million in the first quarter of 2019.

The S&P 500 ended 0.58% lower. Deere & Co led the losses as its shares plunged 7.65%.

The euro lost 0.12% against the dollar to sell for 1.1161 at 4:03 pm ET.

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Breaking the News / NP