Wall Street fell more than 1 percent on Thursday, as tensions heated up ahead of...
- Wall Street fell more than 1 percent on Thursday, as tensions heated up ahead of a make-or-break U.S.-China trade meeting, which could lead to a prolonged dispute that would threaten global financial markets and economic growth.
China has threatened to retaliate if tariffs on $200 billion worth of Chinese goods increase to 25% on Friday, rekindling worries of a worldwide economic slowdown and triggering flight to safety among investors. The benchmark S&P 500 index fell below its 50-day moving average, a closely watched level of near-term momentum, with all the major sectors lower.
Trade-sensitive industrial bellwethers were also hit, with Boeing Co, Caterpillar Inc and 3M Co down about 2%.
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