Wall Street closes lower amid US-China tensions

Thursday, 21. May 2020 21:59

Stock markets in the United States sank at close on Thursday as tensions were rising between China and the US. Democratic Maryland Senator Chris Van Hollen and Republican Pennsylvania Senator Pat Toomey confirmed they were working on a bill that would sanction the Communist Party of China officials and entities that endorse new Chinese legislation about Hong Kong and also sanction banks that collaborate with China.

The Dow fell 0.41% at the close with 3M Co dropping 2.59%. The Nasdaq 100 ended 1.13% lower as Take-Two Interactive Software plummeted 5.89%. The S&P 500 went down by 0.78% to end the session. National Oilwell Varco Inc. led the losses with a 6.77% decline.

The euro lost 0.29% against the dollar to sell for $1.09467 at 4:01 pm ET.

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Breaking the News / TF