Trump's Triggers Drops on Wall Street at the Opening



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Economy

Al Ain News

Tuesday, 06/30/2012 19:12 Abu Dhabi time

NEW YORK (Reuters) - Traders listed on the New York Stock Exchange (Reuters)

NEW YORK (Reuters) – Traders listed on the New York Stock Exchange (Reuters)

US stocks fell on Tuesday, as tech stocks represented significant losses as investors worried about the trade dispute between China and the United States and the long-awaited Federal Reserve meeting.

US President Donald Trump criticized China on Tuesday morning, accusing it of not respecting the terms of the trade negotiations as negotiations in Shanghai resume between Americans and Chinese.

"My team is currently negotiating with them, but they (the Chinese) are still adjusting the deal to their advantage," he wrote in a tweet via his Twitter account.

The Dow Jones Industrial Average <.DJI> was down 75.96 points, or 0.28%, to 27,145.39.

The Standard & Poor's 500 index yielded 13.31 points, or 0.44%, to 3007.66 points.

The Nasdaq Composite Index lost 61.56 points, or 0.74%, to 8231.77.

Chinese and US negotiators are meeting in Shanghai today for further talks on their trade war, but Beijing and Washington are not expecting much about the chances of reaching an agreement.

The meetings will be held on Tuesday and Wednesday in the economic capital of China. The first will take place face to face since the failure of negotiations in May when US President Donald Trump accused Beijing of failing to honor its commitments.

Since last year, China and the United States have been forced to negotiate tariffs on goods with an annual value of more than $ 360 billion.

The fight has spread to the tech sector with the inclusion in May of the Chinese telecommunications giant Huawei on a blacklist of the US administration for security reasons.

The negotiations are taking place in a complex atmosphere in China, marked for weeks by major violent demonstrations in Hong Kong and fierce hostility on the part of the United States.

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