US Stock Lower on US Trade Rep Lighthizer Comments

U.S. stocks added to losses on Wednesday after U.S. Trade Representative Robert Lighthizer said U.S. issues with China are “too serious” to be resolved by promises of more purchases of U.S. goods by Beijing.

Earlier in the day, markets were also pressured by technology stocks, as the second U.S.-North Korean nuclear summit kicked off and tensions flared up between nuclear-armed neighbors India and Pakistan.

At 10:17 a.m. ET the Dow Jones Industrial Average was down 134.03 points, or 0.51 percent, at 25,923.95, the S&P 500 was down 13.67 points, or 0.49 percent, at 2,780.23 and the Nasdaq Composite was down 51.20 points, or 0.68 percent, at 7,498.09.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza