Mnuchin, Lighthizer startle Wall St. with unusual calls as indices fell from record


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Mnuchin, Lighthizer startle Wall St. with unusual calls as indices fell from record

On Tuesday, the 14th of January 2020, a slew of US stocks pared earlier intra-day gains at late-afternoon trading hours and Wall St. had fallen from a record closing high following reveal of a report that US and China had no arrangements of future tariff cuts in the “Phase One” trade deal, while Dow managed to stay in the greens, but S&P and Nasdaq ebbed off despite a solid beginning of the day.

In point of fact, Tuesday’s (January 14th) Wall St. turned the tables after US Treasury’s Steven Mnuchin and USTR Robert Lighthizer was quoted saying in a joint statement that the trade negotiators from Washington and Beijing had no arrangements of either future tariff cuts or tariff roll backs, while the US President Donald Trump’s earlier comments that a ‘Phase 2’ China deal would not come in to effect until November US Presidential election added to investors’ worries further.

Citing statistics, on Tuesday’s (January 14th) Wall St. wrap up, the Dow Jones Industrial Average added 0.11 per cent to 28,939.67, still remaining in a spitting distance to a record 29,000 level, while benchmark Standard & Poor 500 shed 0.15 per cent to 3,283.15 and Nasdaq was nudged 0.24 per cent lower to wind down Tuesday’s (January 14th) market at 9,251.33.