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Image Credit: Bloomberg Quint

Wall Street Today: Dow Jones Falls 100 Points, S&P 500 Slides On Cracks In US-China Trade Thaw

  • US stocks fell as trade tensions between the US and China escalated after President Trump accused Beijing of violating a preliminary trade agreement, causing Dow Jones to drop over 100 points.
  • Most sectoral indices on the S&P 500 were in the red, led by declines in information technology and energy, while consumer staples and utilities saw gains.
  • Inflation-adjusted US personal spending rose by 0.1% in April, with imports slumping almost 20% and the US merchandise-trade deficit narrowing significantly.
  • The yield on the 10-year Treasury bond remained at 4.42%, the US dollar strengthened against major currencies except the yen, oil prices declined, and spot gold fell to $3,293.38 an ounce.

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