U.S. stocks fell on Tuesday as data showed factory activity contracted for the f...
- U.S. stocks fell on Tuesday as data showed factory activity contracted for the first time since 2016 in August, renewing fears that a drawn-out trade war between the United States and China could tip the world’s largest economy into recession.
The weak data also weighed on U.S. Treasury yields, with the benchmark 10-year yield US10YT=RR falling to its lowest since July 2016. Shares of banks .SPXBK, which typically come under pressure in a low interest rate environment, slid 2.1%. U.S. stocks opened lower as the lack of progress on negotiations between Washington and Beijing amid a new round of tariffs kicking in over the weekend weighed on sentiment.
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