Wall Street opens in red dragged by financials

Eren Sengezer FXStreet

Major equity indexes in the United States started the day in the negative territory as investors continue to react to headlines surrounding the U.S.-China trade conflict. Earlier today, People's Daily, the ruling Communist Party’s primary news outlet, in an article wrote that the trade conflict will only make China stronger and will never "bring the country to its knees," to reaffirm China's tough stance. As of writing, the Dow Jones Industrial Average was losing 0.45% on the day while the S&P 500 and the Nasdaq Composite were down 0.5%.

A more-than-1% drop witnessed in the 10-year Treasury bond yields amid the sour market sentiment weighs on the Financials Index, which was last down 0.6% on the day. Additionally, the trade-sensitive Industrials Index is losing 0.65% to be the worst performing sector in the early trade.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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