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Wall Street Drops As US - China Trade War Jitters Resurface

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According to Reuters, Wall Street fell 1.5 percent on Friday with a drop in technology stocks sparking a turnaround from earlier in the day, as renewed concerns of the China-U.S. trade situation offset the effect of a jump in oil prices and a tepid U.S. jobs report. The trade standoff between Washington and Beijing has been a major overhang on equities for most of this year and this week has seen the markets sell off on diminishing hopes that their truce, brokered last weekend, would help resolve differences. These concerns were fanned on Friday by White House trade adviser Peter Navarro’s comments that U.S. officials would raise tariff rates if the two countries could not come to an agreement during the 90-day negotiating period.

Added on the 07/12/2018 13:46:13 - Copyright : Wochit

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