Dow Faces Serious Pressure as US-China Trade Spat Mesmerizes Stock Market
The Dow and wider U.S. stock market declined on Thursday, as the United States and China embarked on their final round of trade negotiations before a self-imposed deadline. By the looks of it, the negotiating window will have to be extended far beyond the March 1 deadline for both sides to get a new deal in place.
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Wall Street’s major benchmarks were off their session lows by midday. The Dow Jones Industrial Average fell by as much as 235 points but later pared losses. It was last down 38 points, or 0.2%, to 25,505.30. The performance diverged from a strong pre-market session for Dow futures, which implied further gains for stocks on Thursday. The U.S. stock market closed at more than two-month highs Wednesday.
The Dow continues to face serious pressure from the ongoing U.S.-China trade negotiations, which continue to proceed with little to show Wall Street.
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