The Dow Jones Industrial Average dipped Monday, the first trading day of June, as global trade tensions increased.
The 30-stock average lost 181 points, or 0.4%. The S&P 500 also pulled back 0.2%, while the Nasdaq Composite gained 0.2%.
China pushed back against U.S. accusations that it had violated a temporary trade agreement. Instead, the country blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating.
Tensions reignited following a brief pause after U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng met in Geneva and agreed to a 90-day suspension of most tariffs. National Economic Council director Kevin Hassett suggested on Sunday that President Donald Trump and China's President Xi Jinping could have a conversation about trade as soon as this week.
Source: CNBC
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