Wall Street, affected by Sino-US tensions ends down

Wall Street, affected by Sino-US tensions ends in decline

Wall Street ended down / & copy AFP / Archives / Bryan R. Smith

Wall Street ended down on Wednesday, affected by a new attack by the US administration against China on the trade front, reviving the specter of an economic war between the two countries.

According to the final results at the closing, its flagship index, the Dow Jones Industrial Average, dropped 0.88% to 24,700.45 points.

The Nasdaq, with a strong technological component, lost 0.55% to 7,716.61 points. [19659004] The expanded S & P 500 index dropped 0.71% to 2,774.02 points.

The US administration again struck Tuesday in the trade war with China by drawing up an additional list of Chinese products imported from an amount of $ 200 billion a year they threaten to tax as early as September.

"The fear of the markets is that this trade war will continue and lead to global economic disruption," observed Ken Berman of Gorilla Trade. [1965] 9004] Especially since Donald Trump could not stop there since the American president had indicated that he could tax more than 200 billion dollars of additional imports.

In total, the taxes could thus apply over 450 billion Chinese imports into the United States. The latter accounted for a total of $ 505 billion in 2017 and the balance of trade between the two countries last year resulted in a deficit of $ 375 billion at the expense of Washington.

Without recovery of negotiations between the two countries, "a further escalation of tensions seems inevitable," said economists Oxford Economics.

Particularly sensitive to fears of trade war, international groups Boeing and Caterpillar have lost 1.89% and 3,18%.

"It will be very interesting to observe the impact of these fears on the results of companies this week," noted Emily Roland, head of financial research at John Hanbad. 19659004] The quarterly results, whose optimistic outlook has sparked the markets' enthusiasm since the beginning of the week, will actually kick off on Friday with the bank's big-name US accounts. [196] 59004] On the indicator side, US producer prices rose more than expected in June, driven mainly by the services sector with large margins in retail fuel sales, the Department of Labor said on Wednesday. [19659004Thebondmarketwaseasing:theyieldonthe10-yearUSdebtdeclinedto2838%against2849%onTuesdayatthecloseandthe30-yearyielddroppedto2937%against2956%atthepreviousclosing

(© AFP / July 11, 2018 22h39)