US stocks fall on Trump administration blacklist decision

2019-10-08 15:28:22 GMT (Economies.com)
US stocks fall on Trump administration blacklist decision

US stocks fell today on mounting concerns about the US-China trade dispute escalation, especially after an unanticipated decision by President Trump administration.

 

The US Treasury Department has blacklisted 8 Chinese tech companies today, which foreshadows the collapse of the upcoming trade talks round scheduled for this week.

 

The International Monetary Fund (IMF) warned today that the global economy may lose around $700 billion in output due to the escalating trade disputes.

 

Otherwise, the US producer price index (PPI) fell by 0.3% in September, which came worse than forecasts of a rise by 0.1%.

 

President Trump renewed his calls for the US Federal bank to cut the interest rates more deeply to support growth.

 

As of 14:49 GMT, Dow Jones fell by 1.1% or 300 points to 26,180 points, Nasdaq lost 1.3% or 104 points to 7,851, and S&P 500 dropped 1.3% or 37 points to 2,901.

 
 
 
  Symbol Last Change Chg.%
1.1164
-0.0002
0.0139%
1.2979
0.0027
0.2119%
17.712
0.167
0.950%
53.327
-0.381
0.709%
58.82
-0.59
0.99%
1491.485
1.330
0.089%
 
 
US
 
Europe
 
Asia