US stocks fall, ending three-day winning streak

NEW YORK: Wall Street stocks fell on Tuesday , snapping a three-session winning streak amid lingering unease over global growth and the US-China trade war.

Stocks were in the red most of the day, but slid further after US President Donald Trump once again said he was not ready to reach a trade deal with China.Analysts also cited a drop in the yield on the 10-year US Treasury note, which is seen as a proxy for confidence in medium-term economic growth.The broad-based S&P 500 slid 23.14 points to close at 2,900.51, while the tech-rich Nasdaq Composite Index shed 54.25 points to 7,948.56.

Stocks ended near session lows, but analysts have said low trading volumes in August can exacerbate market moves.Quincy Krosby, chief market strategist for Prudential Financial, said the pullback was unsurprising after US stocks gained more than one per cent on Monday. She said investors were concerned about the Federal Reserve release on Wednesday of the minutes from the Jul 30-31 policy meeting when the US central bank cut the benchmark interest rate but Fed Chair Jerome Powell offered confusing signals about whether to expect additional rate cuts in 2019.

Kohl's, another retailer, sank 6.9 per cent as it reported a 2.9 per cent drop in comparable sales in the second quarter.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US: Wall St opens higher on stimulus hopesWALL Street opened higher on Monday, after China's plans for an interest rate reform reinforced hopes that major economies would act to counter the impact of escalating global trade tensions. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

New York police officer fired for deadly 2014 chokehold on Eric GarnerNEW YORK (REUTERS) - The white New York Police Department officer who used a deadly chokehold on Eric Garner while trying to arrest him in 2014, giving rise to the Black Lives Matter movement, was fired on Monday (Aug 19), Commissioner James O'Neill said.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

New York police officer sacked over choking death of black manNEW YORK: A US police offer was sacked on Monday (Aug 19) for putting a black man in a banned chokehold just before his death five years ago in a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US records 21 new measles cases as of last weekREUTERS: The United States recorded 21 new measles cases last week, raising the total number of cases for the year to 1,203 across 30 states in ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Huawei dismisses new suspension of 'unjust' US banBEIJING: Huawei on Tuesday (Aug 20) dismissed Washington's three-month delay to a ban on US firms selling to the Chinese tech giant and said the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

New Zealand captain first to benefit from new maternity provisionsThe captain of the New Zealand women's cricket team Amy Satterthwaite will become the first player to benefit from new contract conditions that ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »