Same story, different day. Trade war concerns again rattled markets as Trump moved to curb Chinese investments in U.S. tech firms, with China vowing to "punch back." Markets all over the world sold off, that is except Brazil (up 0.44%) and Mexico, which was basically flat.
Here in the States major averages opened in the red and drifted lower all day, finally bottoming around 3PM EDT. A small late-day rally lifted shares slightly in the final hour. When all was said and done the Industrials were down 328 points with the Transports even harder hit – down 2.34%. Utilities bucked the trend, gaining 1.62%, but the Nasdaq fell 2.09% and the S&P 500 was down 1.37%.
That action followed weakness overseas, where we saw similar magnitude declines in both Europe and Asia. In Europe, the Stoxx 600 fell 2.04%, and the Europe Dow was down 1.90%. Asia saw red across the entire board ... Log in or subscribe to continue reading.