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Wall Street opens down, weighted by trade tensions


Wall Street opens down, weighted by trade tensions

New York (AFP)

Wall Street was backing out at the opening on Tuesday, again under pressure from trade tensions between Beijing and Washington after the entry into force of additional tariffs and new threats from Donald Trump.

The leading index of the New York Stock Exchange, the Dow Jones Industrial Average, was down 0.93% at 26,158.12 points around 13:45 GMT.

The Nasdaq, with strong technological color, lost 0.43% to 7,928.92 points and the expanded S & P 500 index fell by 0.54% to 2,910.72 points.

The New York Stock Exchange was returning from an extended weekend of a holiday Monday, following several weeks dominated by the excitement of a market reacting to the will of Sino-US relations: throughout the month of August , the Dow Jones lost 1.7%, the Nasdaq yielded 2.6% and the S & P 500 dropped 1.8%.

"Global markets face a plethora of turbulence, with tensions between the US and China rising with new tariffs and manufacturing indicators in China, the eurozone, and the UK continuing to show signs of contraction, "commented analysts Charles Schwab.

Additional tariffs on billions of dollars of Chinese products came into effect on Sunday in the United States.

In the face of the bid of Donald Trump, China announced Monday the filing of a complaint to the World Trade Organization (WTO).

And on Tuesday, shortly before the opening of the New York Stock Exchange, the US President warned against the temptation to play the clock in trade negotiations in the hope that Donald Trump will not be re-elected in 2020.

The standoff in which the first two world economic powers have been engaged for more than a year does not seem to be losing momentum, weighing on economic growth.

Added to these tensions are several other sources of concern that encourage investors to be cautious: the uncertainty around Brexit, the political crisis in Hong Kong or the passage of the mighty hurricane, Dorian, near the southeastern coast. United States.

In the bond market, the 10-year rate on the US debt stabilized, moving to 1.500% against 1.496% at the close on Friday.

© 2019 AFP

Source: france24

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