US Market Indexes Fall on China Trade Worries

The Dow Jones Industrial Average closed at 26,438.48 on Monday with a loss of 66.47 points or -0.25%. The S&P 500 closed at 2,932.47 for a loss of 13.17 points or -0.45%. The Nasdaq Composite closed at 8,123.29 for a loss of 40.71 points or -0.50%. The VIX Volatility Index was higher at 15.29 for a gain of 2.42 points or 18.80%.

Monday’s market movers

U.S. market indexes traded lower and closed with losses on Monday after President Trump reported that his administration is looking to increase tariffs on goods from China. The new development was a bit of a surprise as investors have been watching ongoing trade negotiations with China, which are scheduled through this week. China’s Shanghai Index was down 5.5% Monday with the S&P 500 following the risk-off trend and ending with a loss of 0.45%.

There were no major economic reports on the calendar Monday. The Treasury held auctions for three-month bills at a rate of 2.38% and six-month bills at a rate of 2.38%. Treasuries in general saw prices rise on Monday with increased demand for safe havens. The 30-year Treasury bond reported the greatest price gain, up 8/32 with a yield of 2.907%.

In the Dow Jones Industrial Average, the following stocks led losses:

Small-cap stocks

In small caps, the Russell 2000 closed at 1,616.41 for a gain of 2.38 points or 0.15%. The S&P 600 closed at 988.98 for a loss of 0.24 points or -0.02%. The Dow Jones Small-Cap Growth TSM Index closed at 10,252.43 for a gain of 5.79 points or 0.06%. The Dow Jones Small-Cap Value TSM Index closed at 9,919.55 for a loss of 7.61 points or -0.08%.

Other notable indexes

Other notable index closes included the S&P 400 Mid-Cap Index at 1,978.74 for a loss of 2.09

Read More Here...

Bookmark the permalink.