Tuesday, 07 July 2020
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Stocks open lower amid U.S.-China trade uncertainty and civil unrest

U.S. stocks opened modestly lower Monday as investors watched the latest developments in U.S. China relations after a report that China was pausing some purchases of U.S. agricultural goods, amid rising tensions over the status of Hong Kong as an independent region.

The Dow Jones Industrial Average fell 85 points, or 0.3% to 25,288, the S&P 500 index shed 12 points, or 0.4% to 3,033 and the Nasdaq Composite index retreated 21 points, or 0.3%, to 9,466.

Policy makers in China have told state-owned companies to cease purchases of U.S. soybeans and pork, according to reports in Bloomberg and Reuters, after President Trump said Friday that his administration would study new sanctions against China and revoke special privileges enjoyed by Hong Kong after China moved to impose a new national security law on the special administrative region.

Source : Marketwatch

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