Stocks slid Thursday as U.S. President Donald Trump threatened setting unilateral tariffs on trading partners in two weeks.
The S&P 500 lost 0.1%, while the Nasdaq Composite was down 0.1%. The Dow Jones Industrial Average was also lower by 191 points, or 0.5%.
Dow component Boeing shed 4% after an Air India Dreamliner 787 crashed after takeoff with 242 passengers on board. Shares of Oracle
surged 11% after the company reported fiscal fourth-quarter results that beat on the top and bottom lines and indicated more cloud growth ahead.
Stocks were weaker even as investors got another batch of data hinting at a solid economy. The May producer price index, a measure of final demand prices in the U.S. economy, rose just 0.1% for the month after decreasing 0.2% in April. Economists surveyed by Dow Jones had been looking for a 0.2% increase for last month.
Wall Street awaits further developments on trade policy, especially between the U.S. and China, as talks between the two countries have been a focal point this week. Trump said Wednesday he would be willing to extend a July 8 deadline for finishing trade talks with countries before higher U.S. levies take effect, but that the extensions may not be necessary.
Source : CNBC
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