Wall Street stocks: Dow Jones falls nearly 200 points as Trump is not satisfied with China trade talks
|- The main US stock indices fell on Tuesday as US President Donald Trump said he was not satisfied with the US-China trade talks.
- Trump said that the historic meeting with the North Korean leader Kim Jong Un in Singapore on June 12 had a "very substantial chance" of not happening.
The three main US indices closed the day in the red on Tuesday. The S&P 500 Index lost 0.31% to 2,724.44 while the Dow Jones Industrial Average dropped 0.72% or 178.88 points to 24,834.41. The Nasdaq Composite Index lost 0.21% to close at 7,378.46.
The US stock indices fell on Tuesday as the US President Donald Trump said that he was “not satisfied” with the talks between the United States and China. He called the negotiations of last week “a start” while the US administration is finalizing a deal to find a solution to the trade imbalances with China.
He additionally said that the meeting with Kim Jong Un in Singapore on June 12 had a "very substantial chance" of not happening. Trump said that North Korea has to meet conditions for the summit to take place and if there are not met the meeting might happen “later”.
Meanwhile, on the commodities front, crude oil West Texas Intermediate (WTI) benchmark hit a new three-year high at $70.83 a barrel on Venezuela and Iran sanctions while gold stabilized its recent decline around the $1290 a troy ounce as the greenback is having a pause.
Indeed, the US Dollar Index (DXY) is ending the day slightly up at 93.59 while the 10-year Treasury yield also traded sideways closing at 3.062% on Tuesday’s trading.
Dow Jones Industrial Average: daily chart
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