Wall Street turns red

Thursday, 15. August 2019 17:16

Major stock market indexes on Wall Street turned red on Thursday during the trading day as the trade relations between the United States and China continue to linger over investment decisions. A media report published earlier in the day said that most White House officials agree that trade uncertainty is to blame for market volatility, but that President Donald Trump and his adviser Peter Navarro insist the Federal Reserve is to blame. Additionally, Trump stated that any deal with China needs to be "on our terms."

The Dow Jones Industrial Average was 0.09% down at 11:13 am ET as Cisco Systems dropped 7.57% at 11:17 am ET.

The Nasdaq 100 lost 0.37% at 11:14 am ET.

The S&P 500 declined 0.07% at 11:14 am ET as fashion holding company Tapestry fell 19.38% on worse-than-expected guidance and sales at 11:04 am ET. Additionally, General Electric dropped 11.13% at 11:05 am ET as a whistle blower accused the company of accounting fraud.

The euro was 0.34% down compared to the dollar, going for 0.34% at 11:21 am ET.

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Author:
Breaking the News / VP