DJIA Futures Tuesday 12.03.19
S&P 500 Futures Tuesday 12.03.19
Nasdaq Composite Futures Tuesday 12.03.19
Stocks are on a three-day losing streak after President Trump said he might wait until after the 2020 presidential election before striking a trade deal with China.
He said earlier today, “I like the idea of waiting until after the election for the China deal,” stating further that he has “no deadline” and that “it is better to wait.”
Despite the market’s recent negative performance, following a month of blistering gains, President Trump said that the decline is minor when compared to its cumulative performance since he took office.
The now elusive phase one trade deal has been at the center of market sentiment and the overall “headline volatility” that has fueled the markets’ rise positive and negative fluctuations. As the US and China have implemented an escalating series of tariffs–the next round of tariffs on Chinese goods scheduled for December 15–markets have been looking forward to a phase one trade deal to help resolve at least this segment of economic and geopolitical uncertainty.
Now investors are faced with the possibility that such an agreement may shift from vague to vanishing. The Dow plunged 280.23 points, giving back -1% to close at 27,502.81. The S&P 500 fell to 3,093.20, down -0.7%. The Nasdaq Composite ended the day at 8,520.64, down -0.6%.
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