According to a report from Reuters Wednesday, an initial trade deal between U.S. and China may not be completed by the end of 2019. This sent a wave of investors selling off stocks today due to the bleak future trade outlook. The report, which cited unnamed personal tied to the trade talks, stated that trade representatives from both sides are headstrong over points including the extent of tariff rollbacks in a phase one deal.
Here's how the market settled in the mid-week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Yesterday, the U.S. Senate passed new legislation that supports pro-democracy protestors in Hong Kong. The bill requires that the State Department must determine at least once per year that the region of Hong Kong is retaining enough autonomy from China to justify its trade status with the U.S. Many investors see this move as adding more fuel to the ongoing fire of disagreements that is extending the trade war. In a statement on the manner, Chinese Foreign Ministry spokesperson Geng Shuang found the Senate's bill to be neglecting in "facts and truth" and "applies double standards and blatantly interferes in Hong Kong affairs and China's other internal affairs."
In Stock Sector News, shares in most sectors continue to drop into Wednesday due to the heavy sell-off of stocks by market participants. The few that saw gains today include Energy +1.12%, who is finally making back some of the steep declines it experienced recently, Utilities +0.67%, Consumer Staples +0.26%, and Real Estate +0.10%. The rest that saw losses to shares in today's market include Materials -1.17%, Communication Services -0.88%, Information Technology -0.80%, Industrials -0.77%, Financials -0.52%, Consumer Discretionary -0.34%, and Health Care -0.17%.
Lastly, in Commodity and Currency news, oil saw some resurgence today, with West Texas Intermediate's barrel prices increasing almost 0.05% and Brent Crude's edging around 0.02%. Gold
