Here's how the market settled after a day of trading:
S&P 500 (^GSPC): -0.32%, or 9.22 points
Dow (^DJI): -0.47%, or 120.93 points
Nasdaq (^IXIC): -0.34%, or 26.79 points
The U.S. Stock Market saw a downward swing at its close today, heightening this month's fears of recession.
As of Tuesday afternoon, Chinese officials have yet to confirm if trade negotiations had taken place between the U.S. and China, as President Trump had said they had occurred on Sunday at the G7, or Group of seven, summit in France.
Editor-in-Chief of the Chinese and English editions of the Global Times, Hu Xijin, tweeted yesterday that, "Based on what I know, Chinese and US top negotiators didn't hold phone talks in recent days, the two sides have been keeping contact at technical level, it doesn't have significance that President Trump suggested. China didn't change its position. China won't cave to US pressure."
Despite conflicting stories, U.S. investors seem to believe Trump's affirmations that U.S. and China will have further negotiations over trade.
In investing news, David Kostin and other analysts at Goldman Sachs discussed three main strategies for investors amid trade uncertainty which are looking to service providing companies, domestic facing firms, and dividend paying stocks. Service stocks, like Microsoft
In other market news, Pharmacy stocks saw an upward swing after Johnson & Johnson
Utility stocks were among the better performers todays due to a decline in long-term interest rates.
Tomorrow's report will see further development of trade talks between China and U.S. and how the U.S. stock market will respond.