U.S. stocks tumbled on Tuesday as optimism faded over the outcome of trade talks after a report the Trump administration was moving ahead with efforts to limit capital flows to China and the inclusion of Chinese firms to a blacklist.
The declines were broad-based, with the 11 major S&P 500 sectors trading lower and all the 30 components of the blue-chip Dow Jones index in negative territory.
Adding to the pessimism was a South China Morning Post report that said China had toned down expectations ahead of the high-level talks set to begin on Thursday, and that the Chinese delegation could depart Washington a day earlier than planned.
At 11:27 a.m. ET, the Dow Jones Industrial Average was down 283.29 points, or 1.07%, at 26,194.73, while the S&P 500 was down 35.46 points, or 1.21%, at 2,903.33. The Nasdaq Composite was down 94.03 points, or 1.18%, at 7,862.27. The S&P 500 and Dow indexes fell below their 100-day moving average.
Source : Reuters