Wall Street closes in the red as China officials cut US visit short

Friday, 20. September 2019 22:00

US stock markets closed the trading for the week in the red as traders digested the latest news regarding the restarted trade talks between the world’s two largest economies. Following the latest round of deputy-level trade talks in Washington, which are expected to lay the foundation for high-level negotiations in October, the Chinese delegation was scheduled to pay a visit to farms in Montana, but abruptly canceled it without any explanation. The move was seen by some investors as a sign that the two sides are no closer to striking a trade deal.

On finance, the Federal Reserve Bank of New York announced earlier in the day a series of overnight and term repurchase agreement operations that will run through October 10 in a bid to boost liquidity.

The Dow Jones closed by losing 0.59% with Intel losing 1.65%. The Nasdaq 100 ended the trading week by sliding 0.99% with Xilinx and Netflix as the biggest losers, diving 6.82% and 5.53%, respectively. Meanwhile, the S&P 500 dipped 0.49% at the close, also dragged down by Xilinx.

The euro declined 0.20% against the US dollar, buying 1.10184 at 4:30 pm ET.

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Breaking the News / GG