U.S. stocks wobble as trade worries keep investors cautious

Posted April 04, 2018

Trump also threatened the North American Free Trade Agreement over the weekend, while China on Monday responded to the White House's tariffs by imposing new taxes on US imports like pork and fruits, moves that sent shockwaves through the markets. Stocks fell sharply as investors responded to rising trade tensions between the United States and China and mounting scrutiny of big technology companies from consumers and politicians. The index, the Federal Reserve's preferred measure of inflation, has been below the US central bank's 2 percent target since mid-2012. The S&P 500 index slumped 2.4 percent as of 1:10 p.m.in NY, a rout exceeded only by its 2.5 percent decline 89 years ago, a prelude to the devastating crash later that year that brought on the Great Depression. The offer is reported to be for less than Viacom's current market value, and Viacom stock fell 2.8 percent to $29.69. The Nasdaq Composite was off by 3.4 percent before recovering to end down 2.74 percent. The Dow Jones industrial average rose 379 points, or 1.6 percent, to 24,023. But the day's biggest loser was the tech-heavy Nasdaq, which plummeted 2.7 percent to close in correction mode, or 10 percent from its market high.

Facebook shares were down 2.8 percent as the company struggled to produce a satisfactory response to criticism of its handling of user data. There are a number of points of contention between China and Washington, Europe and Japan over a state-led economic model they complain hampers market access, protects Chinese companies and subsidizes exports in violation of Beijing's free-trade commitments. Markets were hampered Monday by President Trump's Twitter assault on Amazon.com, in which he knocked the retailers relationship with the U.S. Postal Service.

Brent crude, used to price worldwide oils, rose 16 cents to $67.80 in London.

Orange County, California, joins Trump's "Sanctuary State" Lawsuit
ICE spokeswoman Lori Haley wrote in an email late Monday that she would not comment "beyond what the Sheriff has said ". The sheriff's department did not discuss the issue with ICE prior to placing inmates' release dates on its website.

The looming threat of tighter regulation of the tech sector in Europe and the US prompted investors to pull money out of high-flying companies, such as Netflix, Microsoft and Alphabet, Google's parent company.

Spotify Technology SA shares opened at $165.90, almost 26 percent above the reference price of $132 a share set by the NYSE late on Monday.

COMMODITIES: Benchmark U.S. crude lost $1.71, or 2.7 percent, to $63.23 a barrel in NY.

Israeli prime minister Netanyahu rushed to hospital
Embassy to open in Jerusalem as planned in May, the Finance Ministry said on Tuesday . Israel has expedited construction permits to enable temporary quarters for the U.S.

From Hogan's standpoint, the president's demands about Mexico and the border wall he wants built spurred more worries than China's tit-for-tat response to US tariffs.

Stocks took as nosedive as soon as trading began Monday. The company said Friday, after the markets closed, that a recent fatal crash of one of its cars involved an activated Autopilot.

Bond prices declined. The yield on the 10-year Treasury note rose to 2.79 percent from 2.73 percent.

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But he added that it was "safe to say" that "Mueller is not prone to exaggeration, so they probably have this tightly tied down". Van der Zwaan, a Dutch citizen, is a former associate at Skadden, Arps, Slate, Meagher & Flom, a prominent USA -based law firm.

Trading in France, Germany and Britain was closed for Easter. Natural gas slid 5 cents to $2.68 per 1,000 cubic feet. Walmart stock fell 3.8 per cent. The euro edged up to $1.2308 from $1.2306.