Dow Jones Industrial Average Pulls Back 70 Points as Trade Uncertainty Plagues Global Markets

The Dow Jones Industrial Average fell 70 points in pre-market trading as uncertainty continued to linger around future trade relations between China and the United States. While markets largely rose this week on positive trade developments from Beijing, officials have done little to clarify how or when trade tensions may be resolved.

This week’s trade talks in Beijing ended with an agreement to hold higher-level talks in Washington in late January. However, these talks may be postponed due to the ongoing government shutdown, which is on the verge of becoming the longest in U.S. history.

Here are the numbers from Thursday for the Dow, S&P 500, and Nasdaq:

Index Previous Close Point Change Percentage Change Dow Jones 24,001.92 122.80 0.51% S&P 500 2,596.64 11.68   0.45% Nasdaq 6,986.07 28.99   0.42%

Now, here’s a closer look at today’s Money Morning insight, the most important market events, and stocks to watch.

The Top Stock Market Stories for Friday On Thursday, Federal Reserve Chair Jerome Powell told an audience at the Economic Club of Washington that he is very concerned about rising U.S. debt. The nation’s national debt is just under $22 trillion, with $16 trillion owed by the American public. Powell’s statement also included mounting worries about the ongoing government shutdown. If the shutdown continues through Saturday, it will become the longest government closure in U.S. history. Powell stated that the longer the shutdown continues, the more economic and social problems could accelerate. Right now, the FDA has said it might not be able to conduct food testing. Millions of Americans on food stamps may not be able to obtain benefits. And lines at the airport will grow longer with the TSA facing new pressures. Thousands of American workers have already filed for unemployment due to the ongoing shutdown. President Trump has canceled

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