US stocks open lower as trade tensions persist

Tuesday, 30. July 2019 15:30

Wall Street opened in the red on Tuesday as China and the United States kicked off their first high-level discussions since the June G20 summit in Japan in Shanghai. However, the mood was somewhat dampened by reports which indicated that neither side expected a major breakthrough in the ongoing round of talks and President Donald Trump's threat that if China waited to get a better deal it could wind up with a "much tougher" one or none at all. Investors also digested the earnings reports released by various companies earlier in the day and awaited more due for release after the closing bell, including Apple Inc's.

The Dow Jones Industrial Average was down 0.35% with Intel Corp. the worst performer while the Nasdaq 100 fell 0.73% on the back of PACCAR Inc's losses of 2.68%. Meanwhile, the S&P 500 dropped 0.51% with Nektar Therapeutics losing 1.84%.

The euro was flat against the dollar to change hands for 1.1145 at 9:29 am ET while the British pound continued its decline and tumbled 0.33% against the greenback to go for 1.2176 at the same time, hitting new lows unseen since the beginning of 2017.

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