Wall Street Lower as Washington Drama

Industrials took the biggest knock on Wall Street on Monday as the latest U.S.-China tariffs kicked in, while adding to uncertainty were questions over whether Deputy Attorney General Rod Rosenstein, who oversees the Mueller investigation, had quit.

With U.S. tariffs on some $200 billion worth of Chinese goods taking effect, along with Beijing’s retaliatory duties, eight of the 11 major S&P sectors were lower. The gainers included the rebranded and expanded “communications services” index.

The industrial sector .SPLRCI, which has borne the brunt of the protracted trade war, fell 1.44 percent, while material stocks .SPLRCM slid 1.48 percent. Boeing (BA.N), the biggest U.S. exporter to China, shed 1.3 percent.

via Reuters

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