The Dow Jones Industrial Average dropped 200 points on Wednesday after media reports said that there is a chance the United States and China will not reach the "phase-one" of their trade deal until the end of the year. Earlier in the day, President Donald Trump stated that it will be up to him to decide if he wants to ink a deal with China as the US is benefiting from tariffs.
The Dow was 0.71% in the red at 1:05 pm ET as it was led lower by The Home Depot Inc which lost 1.70% at 12:50 pm ET. The Nasdaq 100 was down 0.92% at 1:06 pm ET as Ulta Beauty Inc led the losses as it fell 2.68% at 1:07 pm ET. Meanwhile, the S&P 500 was down 0.69% at 1:07 pm ET. L Brands Inc fell 5.88% at 12:53 pm ET ahead of its third quarter earnings release which is due after the bell.
