Wall St. wobbles on bleak data, trade uncertainties

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Wall St. wobbles on bleak data, trade uncertainties

On Tuesday, the 3rd of September 2019, all three key indexes of Wall Street had witnessed a major wobbling trickle, as investors remained fretted over global growth prospects following bleak manufacturing data in the United States, which had failed to fathom a gain in August for the first time since January 2016, while a fresh threat of US President Donald Trump to China over closing a trade deal on US terms, which would likely to be answered with further resentments, casted away trade optimisms or what was left of it after US and China had imposed added duties on each other’s good from Sunday, September 1st.

Apart from that, investors had been on top of their heels on Tuesday’s (Sept. 3rd) market in the face of a series of downbeat economic data which in effect prodded the investors to flee riskier assets, while adding that the equity market’s momentum would likely to be triggered by the progresses on latest round of Sino-US trade talk, a managing director of global markets research at FTSE Russell based on New York, Alec Young said, “If anything the U.S.

manufacturing data signals that the new tariffs couldn’t come at a worse time. It’s bad news on top of bad news. That’s why investors are so focused on negotiations. Not only have expectations been receding for a U.S.-China deal but they can’t even agree on a date to meet.

” Quoting statistics, on Tuesday’s (Sept. 3rd) market closure, Dow Jones Industrial Averages shed 1.08 per cent to round off the day at 26,118.02, while benchmark standard & poor 500 had shrugged off 0.69 per cent to 2,906.27 and tech-heavy Nasdaq was nudged 1.11 per cent lower to 7,874.16 on Tuesday’s (Sept. 3rd) market wind down.