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US stocks end on a mixed note as latest US China trade tension develops


Devdiscourse News Desk
Updated: 25-09-2018 07:07 IST
US stocks end on a mixed note as latest US China trade tension develops

US stocks ended mixed as investors kept a close eye on the latest development of trade tensions between the US and it's key trading partners while digesting a batch of economic data.

The Dow Jones Industrial Average on Monday fell 181.45 points, or 0.68 percent, to 26,562.05. The S&P 500 was down 10.30 points, or 0.35 percent, to 2,919.37, Xinhua news agency reported.

The Nasdaq Composite Index rose 6.29 points, or 0.08 percent, to 7,993.25.

Shares of Caterpillar and Boeing, companies with high overseas revenue exposure, both declined more than 1 percent, at the close.

Exxon Mobil and Apple were among the best performers in the Dow. Shares of the companies advanced 1.68 percent and 1.44 percent, respectively.

Seven of the 11 primary S&P 500 sectors traded lower, with real estate and consumer staples leading the losers. Tech sector closed more than 0.3 percent higher, underpinning the Nasdaq.

Market sentiment was dented by concerns that an escalation of trade frictions between Washington and its key trading partners may have a negative impact on the global economy, noted experts.

On economic data, the Chicago Fed National Activity Index (CFNAI) was unchanged at +0.18 in August from July rate, the Chicago Federal Reserve Bank announced on Monday.

The CFNAI is a weighted average of 85 existing monthly indicators of national economic activity. A positive index reading corresponds to growth above trend and a negative index reading indicates growth below trend.

COUNTRY : ChinaUnited States