- Title: Stocks fall as financials lag
- Date: 27th August 2019
- Summary: NEW YORK, NEW YORK, UNITED STATES (AUGUST 27, 2019) (REUTERS) (SOUNDBITE) (English) HENNION & WALSH ASSET MANAGEMENT PRESIDENT AND CHIEF INVESTMENT OFFICER, KEVIN MAHN, SAYING: "Well, investors have a lot to try and digest right now. They have to figure out is the Fed going to cut rates again in September? And if they do will it be by 25 basis points or 50 basis points? They have to consider, are we heading into a recession, because the yield curve has now inverted? They have to consider, what's going to happen with the U.S. consumer heading into this holiday shopping season. And then, of course, where do we stand with respect to U.S. and China trade talks and potentially additional tariffs? That's a lot to digest at one time. I think that's why you're seeing some of this whipsaw volatility."
- Embargoed: 10th September 2019 21:24
- Keywords: S&P 500 NYSE trade deal U.S. stocks China S&P Nasdaq Dow Jones financials
- Location: NEW YORK, NEW YORK, UNITED STATES
- City: NEW YORK, NEW YORK, UNITED STATES
- Country: USA
- Topics: Economic Events,Equities Markets
- Reuters ID: LVA002ATZW499
- Aspect Ratio: 16:9
- Story Text:Wall Street slipped on Tuesday (August 27), weighed down by financial stocks as a deepened yield curve inversion raised U.S. recession worries, while uncertainty continued to plague any signs of progress on trade negotiations between the United States and China.
The Dow Jones Industrial Average fell 120.93 points, or 0.47%, to 25,777.9, the S&P 500 lost 9.22 points, or 0.32%, to 2,869.16, and the Nasdaq Composite dropped 26.79 points, or 0.34%, to 7,826.95.
(Production by: Aleksandra Michalska)
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