Dow drops 500pts on Trump's China remarks

Friday, 14. December 2018 20:38

The Dow Jones Industrial Average dropped over 500 points on Friday after United States President Donald Trump stated a deal with China was close. The president commented on China's announcement regarding its economy slowdown, underlining that the US economy was "doing very well."

The Dow lost 2.09% at 8:41 pm CET, with Johnson & Johnson plunging 9.40% on reports concerning asbestos in baby powder. The Nasdaq 100 dropped 2.32% at 8:42 pm CET, with Adobe losing 6.59% after it posted its corporate earnings report yesterday. The S&P 500 was 20.1% in the red at 8:43 pm CET, dragged down by the healthcare sector.

The euro lost 0.52% against the greenback to change hands for 1.1305 at 8:46 pm CET.

Related Links: Johnson & JohnsonAdobe Systems Incorporated
Author:
Breaking the News / BM