Wall Street closes lower, Dow down 1%

Tuesday, 03. December 2019 22:01

Equities on the United States stock markets finished Tuesday's trading session significantly lower on renewed trade-related concerns. Commerce Secretary Wilbur Ross stated new tariffs on Chinese imports will be applied on December 15 unless there is "substantive progress in talks." Meanwhile, President Donald Trump claimed trade issues with France can "easily get worked out" following a meeting with the country's leader Emmanuel Macron. Meanwhile, media reported T-Mobile US Inc. and Sprint Corp. were discussing repricing of their $26.5 billion merger deal. Salesforce.com Inc. reported its third-quarter revenue earnings increased 33%.

The Dow Jones Industrial Average closed 1.01% lower, with Intel Corp. surrendering 2.76%. The Nasdaq 100 and the S&P 500 both dropped 0.66%. The worst performers on the indexes were Cadence Design Systems Inc. on the Nasdaq, which was down 3.35%, and Apache Corp. on the S&P, which lost 5.99%.

The euro was flat against the greenback at 3:59 pm ET to change hands for 1.10808. The pound rose 0.38% at the same time, selling for 1.29974 dollars.

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Breaking the News / MD