U.S. stock-index benchmarks on Wednesday opened firmly lower, set to close in the red for the first time in five sessions after the Trump administration said it would place tariffs on a further $200 billion in Chinese goods, escalating tensions between trading partners in Washington and in other parts of the globe.
The Dow Jones Industrial Average fell 166 points, or 0.7%, at 24,758, the S&P 500 index declined by 0.5% at 2,778. Meanwhile, the Nasdaq Composite Index fell 0.7% at 7,708. All three benchmarks had enjoyed four straight days of gains as trade fears had taken a back seat to better economic reports, notable Friday's better-than-expected jobs report for June, and coming second-quarter earnings, which are expected to be strong. In economic reports, the June producer-price index rose 0.3%, as did the core PPI, which excludes volatile food and energy.
Source : Marketwatch