The Standard & Poor’s 500 index retreated 1.4 percent, and the Nasdaq composite was 1.8 percent in the red in midmorning trading.
Trader Ryan Falvey works on the floor of the New York Stock Exchange on Thursday. The markets remain jittery as investors braced for a crucial phase in U.S.-China trade negotiations.
On Thursday night in Florida, Trump said China “broke the deal” in the ongoing trade talks. “They can’t do that, so they’ll be paying,” Trump told supporters at a rally in Panama City Beach. Intel, Apple, Boeing and Caterpillar were among the hardest-hit Dow stocks because of their exposure to the Chinese economy.
Both sides were trying to repair the damage and conclude some sort of deal that is in the interest of the two biggest economies in the world.
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