Stocks opened lower Wednesday as Wall Street investors continued to worry that U.S.-China trade talks may fail, despite the expected arrival of China’s top trade negotiator in Washington, D.C., on Thursday for more talks.
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Chinese negotiators last week walked back a number of concessions that had been agreed upon with American negotiators, according the U.S. Trade Representative Robert Lighthizer. In response, President Trump tweeted that on Friday he will sharply increase tariffs on Chinese goods.
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Prospects that the trade talks, which were set to resume on Thursday in Washington, D.C., could founder and the costly conflict between the world’s two biggest economies continue caused investors to bail out of equities, sending major indexes plunging.
However, shortly before the opening bell, Trump tweeted that China’s vice premier is coming to the U.S. “to make a deal.”
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25960.09 | -5.00 | -0.02% |
| SP500 | S&P 500 | 2879 | -5.05 | -0.18% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7948.926518 | -14.83 | -0.19% |
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The yield on the 10-year Treasury slipped fractionally to 2.43 percent.
Crude oil prices edged higher to $61.61 per barrel.
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China’s Shanghai Composite closed down 1.12 percent, the Hang Seng was lower by 1.23 percent and Japan’s Nikkei 225 closed lower by 1.46 percent.
Britain’s FTSE 100 was down 0.17 percent, France’s CAC 40 slipped 0.07 percent and Germany’s DAX climbed 0.31 percent.
