Wall Street opens lower as trade tensions continue

Tuesday, 20. August 2019 15:30

United States stocks opened in the red on Tuesday as trade tensions between the US and China continued to take their toll on markets. US Secretary of State Mike Pompeo urged China to protect the freedom of speech of Hong Kong's citizens after Vice President Mike Pence previously stated that Beijing's respect for the autonomous territory's integrity and laws were a condition for the realization of any trade deal. In other news, analysts predicted that the Federal Reserve will cut US interest rates another five times by April 2020.

The Dow Jones Industrial Average was down 0.04% while the Nasdaq 100 fell 0.13% on the back of NetEase Inc's losses of 3.49%. The S&P 500 was 0.16% lower as Nvidia Corp. dropped 1.41%.

The euro was flat against the dollar to change hands for 1.1079 at 9:29 am ET while the British pound tumbled 0.24% against the greenback to go for 1.2096 at the same time.

Related Links: 
Author:
Breaking the News / DZ