US stocks lower on escalating US-China trade dispute

Major indexes started the day in the red

Another flare-up in trade tensions between the USA and China sent the stock market sharply lower for the second time this week. It fell modestly for the week. Leading the decline were airplane giant Boeing, which fell 3.1%, and heavy-equipment maker Caterpillar, which declined 3.5%.

Beijing hit back against US plans to impose tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key American imports including soybeans, planes, cars, beef and chemicals.

The Dow recovered some of its worse losses to end down 2.3 percent at 23,932. The implied opens for the S&P 500 and Nasdaq also sits deep in the red. The Nasdaq composite added 0.5 percent to 7,076.55.

"China's response could embolden Trump to push for broader USA tariffs, escalating trade tensions further". The Russell 2000 index of smaller-company stocks dipped 29.63 points, or 1.9 percent, to 1,513.30. Aerospace company Boeing shed $14.07, or 4.3 percent, to $316.75.

But technology companies.SPLRCT erased their losses to trade flat, helped by Apple (AAPL.O) entering positive territory.

A barrel of US crude fell $1.28, or 2 percent, to $62.23 a barrel in NY while Brent crude, used to price worldwide oils, fell $.05, or 1.5 percent, to $67.07 a barrel in London.

The S&P 500 fell 56 points, or 2.1 percent, to 2,607. Johnson & Johnson sank $2.99, or 2.3 percent, to $127.72 and health insurer UnitedHealth dropped $59, or 2.6 percent, to $223.18. Most other Asian indexes had closed when China announced its response to the US tariff plans.

Technology companies, banks and industrial stocks were falling the most in midday trading Friday. Natural gas rose 3 cents to $2.70 per 1,000 cubic feet.

The stock market has changed direction again and again this week as investors tried to get a sense of whether a trade dispute between the two nations will escalate.

The Trump administration on Tuesday released a list of 1,300 imported Chinese products, including industrial robots and telecoms gear, subject to potential tariffs to protest Beijing's alleged theft of USA technology. The index is now down for the week.

Tim Tebow homers on first pitch in Double-A debut
Tebow delivered the biggest hit of the game. "But from the first time I saw him to this spring he's made some nice improvements". Yes, Tebow hit.226 with a.656 OPS last season at the A level of the Mets organization, but he really struggled this spring.

Sierra Leone Presidential polls: Buhari congratulates Bio on his victory
For him if there was "anyone sent to rig an election it would not be and should not be a former President of Ghana". On the streets of Freetown, Bio supporters celebrated his victory and what they say he means for the country.

'Avengers 4' Film Probably To Be Named 'Avengers: Infinity Gauntlet'
The brothers closed off their letter with " Good luck and happy viewing " and affixed their respective signatures at the end. Fans are now in a dilemma... whether to release spoilers or respect Russo Brothers' request.

As worries about the tension between the US and China intensify, The Dow plunged once again on Friday, with sharp losses that went as high as 710 points.

The Toronto Stock Exchange's S&P/TSX composite index closed down 148.64 points, or 0.97 peR cent, at 15,207.41.

The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped to 2.78% after the jobs report.

However Adams said that there was good news for food producers, as the Chinese government proposed duties on imported beef, but not pork or chicken.

Industrial companies were especially hard hit by the escalation in trade tensions Friday.

Negative sentiment was also generated by a report from the Labor Department showing U.S. job growth slowed by much more than anticipated in the month of March.

Employers added 103,000 jobs in March, which is weaker than the last few months.

The FTSE has fallen from 7200 following a 0.2 percent decline, while the situation was slightly more severe in the Eurozone, with the CAC and DAX dropping 0.5 percent and 0.7 percent respectively.

The Dow Jones industrial average lost 152 points, or 0.6 percent, to 24,347. The price of gold jumped 0.7 percent, to $1,347.20 an ounce.

Related news:

Hot News

isis-killer-beheading-video-story-top Sen. Shaheen: EPA chief Scott Pruitt should resign
Apr 07, 2018 - 05:26
Press secretary Sarah Sanders told CNN Thursday the White House does "not have any plans for personnel changes at this time". However, DeGette sent a letter of her own Thursday to the EPA watchdog to investigate the scandals swirling around Pruitt.

isis-killer-beheading-video-story-top Amazon.com, Inc. (NASDAQ:AMZN): Stock in Review
Apr 06, 2018 - 02:26
Loop Capital set a $1,700.00 price target on Amazon .com and gave the company a "buy" rating in a research note on Wednesday . Amazon .com, Inc. engages in the retail sale of consumer products and subscriptions in North America and internationally. ".

isis-killer-beheading-video-story-top Magnitude 6 quake hits Mindanao areas
Apr 06, 2018 - 02:22
A strong natural disaster struck the Channel Islands region on Thursday afternoon and rattled much of Southern California. According to the Philippine Institute of Volcanology and Seismology (Phivolcs), the natural disaster hit at 11:53 a.m.

isis-killer-beheading-video-story-top Ronaldo Stuns Juventus With Two Strikes, Bayern Win Sevilla
Apr 06, 2018 - 02:03
We lost the ball too often and lacked structure in midfield, which allowed Sevilla to create chances. The Spanish club was eliminated by Leicester in the round of 16 past year .

isis-killer-beheading-video-story-top Liverpool sweating over Salah strain
Apr 06, 2018 - 01:41
City and Liverpool have played each other 207 times since their first game in 1893 when the Citizens were called Ardwick - however, Tuesday's clash marks the first time the clubs meet in Europe.

isis-killer-beheading-video-story-top Arsenal striker Alexandre Lacazette 'not himself' before surgery- Arsene Wenger
Apr 05, 2018 - 08:52
He added: "There is some extra pressure on us to do extremely well in this competition but that's part of being where we are". Arsenal manager Arsene Wenger has refused to comment on the mooted transfer of CSKA Moscow striker Aleksandar Golovin.

isis-killer-beheading-video-story-top Zuckerberg says he is right person to lead Facebook despite 'mistakes'
Apr 05, 2018 - 08:17
He said: "For some reason we haven't been able to kick this notion for years that people think we will sell data to advertisers". In Wednesday's post, titled An Update on Our Plans to Restrict Data Access on Facebook , the company outlined several changes.

isis-killer-beheading-video-story-top Crowds of people honor Dr. Martin Luther King Jr. at Calder Plaza
Apr 05, 2018 - 07:46
Kayla Smith is a law student at the University of Windsor and said King made a profound impact on her life as an activist. Retired College of DuPage administrator Ernie Gibson, Ph.D., shares remembrances of his friend the Rev.

isis-killer-beheading-video-story-top Cardi B & Migos: 'Drip' Stream, Download & Lyrics
Apr 05, 2018 - 07:45
Check out the new single from Cardi and Migos below and look for Invasion Of Privacy this Friday, April 6th. Cardi used to work as a stripper in NY before concentrating on making online videos .

isis-killer-beheading-video-story-top Sally Pearson expected to pull out of Commonwealth Games
Apr 05, 2018 - 07:32
This has been ongoing for a couple of years and it is unfortunate the timing is now. Then I went into some hurdle drills and run-throughs, just could not do it.

isis-killer-beheading-video-story-top Nicole Scherzinger breaks silence after being dropped from The X Factor
Apr 04, 2018 - 08:11
However, the show source told The Sun it may not be that easy to axe Louis or Sharon as they both are contracted for the series. However, he said it would be a real shame if the show lost Nicole, calling her "brilliant" and hard-working.

isis-killer-beheading-video-story-top Officials of unnamed country summoned after Commonwealth Games needle ban breach
Apr 04, 2018 - 07:40
However, the CGF insists that athletes should take prior permissions, failing which can result in unspecified sanctions. Furthermore, talking to PTI, a top official from the contingent said that there has been no wrongdoing from India .

isis-killer-beheading-video-story-top US Considers New Sanctions Against North Korea
Apr 04, 2018 - 07:27
Washington has vowed to keep pressure on North Korea over its nuclear weapons program despite recent moves toward dialogue. The designations came at the request of the United States, the report quoted a council diplomat as saying.

isis-killer-beheading-video-story-top OnePlus 6 Official Teaser Out; Smartphone Expected to be Launched in April
Apr 04, 2018 - 07:01
The alphanumeric word "6et" obviously means the upcoming phone will indeed be called as OnePlus 6 , as previously rumored. We've also got a picture of a OnePlus 6's case which reveals its back design, but let's first take a look at the pricing.

isis-killer-beheading-video-story-top More than 1000 companies yet to submit figures on gender pay gap
Apr 04, 2018 - 06:56
Last week, data published by public sector organisations revealed nearly nine in ten bodies pay male staff more than women. While there are more women than men in the top quartile, this represents 19% of all female staff.