REUTERS: Wall Street edged lower on Wednesday as President Donald Trump's threat to"substantially" raise tariffs if China did not make a trade deal with the United States as well as escalating tensions in Hong Kong kept investors away from riskier assets.
"It felt for a couple weeks that the deal was almost done and then you have these comments that sort of puts us in the same place we were." Wall Street's main indexes have touched new highs this month on the back of a strong corporate earnings season and hopes of a trade deal to end the damaging 16-month tariff war.
Shares of Alibaba Group Holding Ltd slipped 1.2per cent as the Chinese e-commerce giant revealed plans to launch a Hong Kong share sale to raise up to US$13.4 billion.
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