US stocks open lower amid trade concerns

Wednesday, 13. November 2019 15:30

Major stock market indexes in the United States were in the red at the beginning of the trading session with the investors' focus still on the yesterday's warning by the American president Donald Trump that, if the trade deal with Beijing is not completed, he would "substantially" raise the currently imposed tariffs on Chinese imports. Trump's economic advisor Larry Kudlow did not clarify the details of the trade talks, but said that the phase one deal "could happen soon."

Earlier today, the US Bureau of Labor Statistics announced that the consumer inflation rate in the country grew to 1.8% in the 12 months ending with October.

The Dow Jones Industrial Average index decreased by 0.29% at the open. Dow Inc. led the losses, falling 2.47% at 9:32 am ET.

The Nasdaq 100 was 0.35% down. Semiconductor company Skyworks Solutions dropped the most, 4.51%, at 9:39 am ET.

The S&P 500 dipped 0.29%.

The euro declined 0.06% compared to the dollar to go for 1.10042 at 9:33 am ET, while the pound was 0.14% lower than the greenback to change hands for 1.28342 a minute later.

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Breaking the News / MS