Wall St. loses early gains as trade concerns abound

[riversedge]

Source: Reuters




May 28, 2019 / 6:22 AM / Updated an hour ago



NEW YORK (Reuters) - U.S. stocks closed lower on Tuesday, with initial gains giving way to declines as the likelihood of a prolonged trade war between the United States and China once again kept risk appetite in check.

U.S. President Donald Trump on Monday said he was “not yet ready” to make a deal with China, although he expected one could be reached in the future. An expanding tariff battle between the two sides has raised concerns the trade war would lead to a global economic slowdown.

“The market holds up well, but then the weak hands take over late in the day,” said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina.

“Pick a worry and it continues to grow and manifest, whether it be trade or looking into consumer confidence, thinking maybe those people did the survey before the China stuff hit the fan. Clearly it’s all about trade.”
................................

The majority of the 11 S&P sectors were in the red, with only communication services on the plus side. ...............................

Read more: https://www.reuters.com/article/us-usa-stocks/wall-st-loses-early-gains-as-trade-concerns-abound-idUSKCN1SY15F

[beachbum bob]

1. realization by investors that little hope the trade situation is going to be resolved any time soon,

all public pronouncements by trump/admin have been smoke and mirrors.


the markets that took sometimes decades to get establish should be considered as never coming back even after any deal is struck. China won't let that happen to them again

[SergeStorms]

2. Winning trade wars is easy.

Just get a Democratic president in the White House who knows what they're doing.