Wall Street in the red after US unveils more tariffs

Markets 7/11/2018, 10:01 PM
Wall Street in the red after US unveils more tariffs

Equities on Wall Street finished the session on Wednesday in the red amid rising global tensions surrounding tariff imposed by the United States on China. US President Donald Trump decided to take the trade war with Beijing a step further, issuing a list of 10% tariffs on an additional $200 billion worth of Chinese goods. Crude prices sank on uncertainty regarding trade as well as news Libya's state oil company would reopen four of its export terminals.

The Dow Jones Industrial Average lost 0.88% at the closing bell as Chevron Corporation tumbled 3.18%. Meanwhile, the S&P 500 fell 0.71% with American Airlines plunging 8.08% as the worst performer. The Nasdaq 100 declined 0.53%, led lower by DISH Network and Lam Research diving both above 4%. The euro dipped 0.59% versus the greenback at 10:03 pm CET, buying 1.16746.

Breaking the News / JC


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