Markets Right Now: Stocks sink as trade conflicts escalate | KOB 4
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Markets Right Now: Stocks sink as trade conflicts escalate


Updated: December 03, 2019 02:20 PM
Created: December 03, 2019 02:14 PM

NEW YORK (AP) - The latest on developments in financial markets (all times local):

4 p.m.

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Stocks are closing broadly lower after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology companies, which do a lot of business with China, stocks led the declines. Intel lost 2.8%.

Trump said he had "no deadline" for making a deal, suggesting there may not be an agreement this year, as previously hoped.

Investors were also disappointed that the U.S. proposed tariffs on French goods, a day after announcing taxes on steel and aluminum imports from Chile and Argentina.

The S&P 500 fell 20 points, or 0.6% to 3,093.

The Dow Jones Industrial Average dropped 280 points, or 1%, to 27,502. The Nasdaq lost 47 points, or 0.6%, to 8,520.

Bond prices rose. The yield on the 10-year Treasury fell to 1.72%.

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11:45 a.m.

Stocks are falling sharply after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology companies, which do a lot of business with China, stocks led the declines. Apple sank 2.5%.

Trump said he had "no deadline" for making a deal, suggesting there may not be an agreement this year, as previously hoped.

Investors were also disappointed that the U.S. proposed tariffs on French goods, a day after announcing taxes on steel and aluminum imports from Chile and Argentina.

The S&P 500 fell 34 points, or 1.1% to 3,079.

The Dow Jones Industrial Average dropped 411 points, or 1.5%, to 27,371. The Nasdaq lost 97 points, or 1.1%, to 8,470.

Bond prices rose sharply. The yield on the 10-year Treasury fell to 1.69%.

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9:35 a.m.

Stocks are opening sharply lower on Wall Street after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology stocks and banks led the declines. Tech stocks are particularly vulnerable to swings in trade talks because they do so much business in China. Apple sank 2.3%.

Speaking in London where he's attending a NATO summit, Trump said he had "no deadline" for making a deal, suggesting there may not be an agreement this year, as previously hoped.

The S&P 500 fell 32 points, or 1% to 3,081.

The Dow Jones Industrial Average dropped 300 points, or 1.1%, to 27,496. The Nasdaq lost 100 points, or 1.2%, to 8,467.

Bond prices rose. The yield on the 10-year Treasury fell to 1.76%.


(Copyright 2019 by The Associated Press. All Rights Reserved.)

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