US stocks end lower, log weekly losses on trade talks concerns

US stocks fell today after several news sources reported that the Chinese delegation has canceled a planned visit during the ongoing deputy-level trade talks round, which raised concerns about the upcoming high-level round in the first of October.

President Trump said earlier in a press conference today that China is making progress in the trade talks file with the US, while noting that an agreement will not be necessarily reached before the 2020 elections.

President Trump also stated that his administration has removed the tariffs on 400 of Chinese imports, to pave the way for constructive talks.

Whilst, several news agencies reported that the Chinese delegation had canceled its visit to Montana which was supposed to prepare for a high-level round of talks scheduled for next month.

In the oil market, WTI fell by 0.07% to close at $58.09 a barrel, but posted a weekly gain of 5.9%, with an intraday high of $59.1 and a low of $58.3.

Brent shed 0.2%, to $64.28 a barrel, with weekly gains of 6.7%, hit a high of $65.2 and a low of $64.4.

Dow Jones fell by 0.6% or 159 points to close at 26,935 points, and posted a weekly loss of 1%, with an intraday high of 27,194 points and a low of 26,926 points.

Nasdaq also fell by 0.8% or 65 points to 8,117, to notche a weekly loss of 0.7%, and hit a high of 8,202 and a low of 8086.

S&P 500 shed 0.5% or 14 points to close 2,992 points, and posted a weekly loss of 0.5%, a high of 3,016 and a low of 2,984.