Stocks went into negative territory on Wednesday after report said President Donald Trump and Chinese leader Xi Jinping likely won’t meet to sign a trade deal until December.
The Dow Jones Industrial Average fell about 75 points, or 0.3%, while the S&P 500 was about 0.2% lower. The Nasdaq Composite declined 0.5% as big tech including Amazon, Microsoft and Facebook all underperformed. The 30-stock Dow hit another record close in the previous session.
The meeting between Trump and Xi could be delayed as the two sides still need to decide on the terms and a venue, Reuters reported Wednesday, citing a senior Trump administration official. The report also said it’s still possible the two countries will not reach a trade pact.