Dow drops 500pts on Trump's China remarks

Markets 12/14/2018, 8:38 PM
Dow drops 500pts on Trump's China remarks

The Dow Jones Industrial Average dropped over 500 points on Friday after United States President Donald Trump stated a deal with China was close. The president commented on China's announcement regarding its economy slowdown, underlining that the US economy was "doing very well."

The Dow lost 2.09% at 8:41 pm CET, with Johnson & Johnson plunging 9.40% on reports concerning asbestos in baby powder. The Nasdaq 100 dropped 2.32% at 8:42 pm CET, with Adobe losing 6.59% after it posted its corporate earnings report yesterday. The S&P 500 was 20.1% in the red at 8:43 pm CET, dragged down by the healthcare sector.

The euro lost 0.52% against the greenback to change hands for 1.1305 at 8:46 pm CET.

Breaking the News / BM

Keywords:
Share:

Johnson & Joh...+0.84%

129.36
Chart for: Johnson & Johnson

Adobe Systems+3.33%

242.3600
Chart for: Adobe Inc.

EUR/USD-0.03%

1.1410
Chart for: EUR/USD Spot

US SPX 500 In...+0.24%

2,612.02
Chart for: US SPX 500 Index

US Wall Stree...+0.24%

24,077.20
Chart for: US Wall Street 30 index

US Tech 100 I...+0.12%

6,676.50
Chart for: US Tech 100 Index