Stocks sink on Trump's trade comments

Updated 1:35 pm PST, Tuesday, December 3, 2019

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4 p.m.

Stocks are closing broadly lower after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology companies, which do a lot of business with China, stocks led the declines. Intel lost 2.8%.

Trump said he had “no deadline” for making a deal, suggesting there may not be an agreement this year, as previously hoped.

Investors were also disappointed that the U.S. proposed tariffs on French goods, a day after announcing taxes on steel and aluminum imports from Chile and Argentina.

The S&P 500 fell 20 points, or 0.6% to 3,093.

The Dow Jones Industrial Average dropped 280 points, or 1%, to 27,502. The Nasdaq lost 47 points, or 0.6%, to 8,520.

Bond prices rose. The yield on the 10-year Treasury fell to 1.72%.

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11:45 a.m.

Stocks are falling sharply after President Donald Trump indicated he was in no hurry to make a trade deal with China.

Technology companies, which do a lot of business with China, stocks led the declines. Apple sank 2.5%.

Trump said he had “no deadline” for making a deal, suggesting there may not be an agreement this year, as previously hoped.

Investors were also disappointed that the U.S. proposed tariffs on French goods, a day after announcing taxes on steel and aluminum imports from Chile and Argentina.

The S&P 500 fell 34 points, or 1.1% to 3,079.

The Dow Jones Industrial Average dropped 411 points, or 1.5%, to 27,371. The Nasdaq lost 97 points, or 1.1%, to 8,470.

Bond prices rose sharply. The yield on the 10-year Treasury fell to 1.69%.

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9:35 a.m.

Stocks are opening sharply lower on Wall Street after President

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