Trade tensions slam Wall Street as global growth worries mount
Updated : May 24, 2019 06:35 AM IST
Further fuelling trade fears among investors, Beijing said that Washington needs to correct its “wrong actions” for trade talks to continue after the United States blacklisted Huawei Technology Co Ltd last week.
A 5 percent plunge in oil prices in response to a dampened outlook for demand impeded energy shares, while a drop in 10-year Treasury yields, which hit their lowest level since October 2017, held back financial shares.
The Dow Jones Industrial Average fell 286.14 points, or 1.11 percent, to 25,490.47, the S&P 500 lost 34.03 points, or 1.19 percent, to 2,822.24 and the Nasdaq Composite dropped 122.56 points, or 1.58 percent, to 7,628.28.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more