Stocks around the globe declined on Thursday as trade concerns continue to overhang the markets.
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Dow Jones futures were lower by 0.02%. The S&P 500 slipped 0.03% and the Nasdaq Composite was unchanged.
Market jitters surround the fact that the trade dispute between the US and China could escalate on Thursday as additional duties are scheduled to be placed on Chinese goods.
The latest round were initially proposed at 10 percent, but President Trump directed U.S. Trade Representative Robert Lighthizer to consider raising them to 25 percent in response to Chinese retaliation.
China’s commerce ministry said on Thursday that China will be forced to retaliate if the United States implements new tariff measures.
In Asian markets on Thursday, China’s Shanghai Composite finished the session down 0.5 percent.
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Hong Kong’s Hang Seng Index was down 1.5 percent.
Japan’s Nikkei ended the day down 0.41 percent.
In European trading, London’s FTSE was lower by 0.08 percent, Germany’s DAX slipped 0.16 percent and France’s CAC gained 0.08 percent.
U.S.-Canada NAFTA talks resumed Wednesday after the Trump administration threatened to withdraw itself from the 24-year-old trade deal, notifying Congress last Friday of its intention to enter into a trade deal with Mexico.
Stocks were mixed on Wednesday, with the Nasdaq under pressure as Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey answered questions from the Senate Intelligence Committee about their companies’ responses to how foreign governments use social media to spread political propaganda.
The Dow Jones Industrial Average rose 22.51 points, or 0.09 percent, to 25,974.99. The S&P 500 edged 8.12 points lower to 2,888.60. The Nasdaq Composite dropped 96.07 points, or 1.19 percent, to 7,995.17.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25974.99 | +22.51 | +0.09% |
| SP500 | S&P 500 | 2888.6 | -8.12 | -0.28% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7995.1726 | -96.07 | -1.19% |
Meanwhile, House Speaker Paul Ryan confirmed Wednesday that the House plans to bring Tax Cuts 2.0 (which will include making last year’s individual tax cuts permanent) to the floor this month.
Traders will have a full plate of economic reports to sift through including a report on private sector hiring as well as weekly jobless claims leading up to Friday’s big monthly employment report.
Reports are also due on productivity, factory orders and services.
FOX Business’ Leia Klingel and Henry Fernandez have contributed to this article.
