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Wall Street plunged into the red shortly after midday after the media reported that US President Donald Trump had additional duties on Chinese imports and that he was also planning to start trade talks with the US. Japan.
Inventories were relatively stable until noon, when the media reported that Mr Trump had indicated that he was ready to charge duties on 267 billion additional dollars of Chinese imports.
A solid report on employment has shown the best wage growth in just over nine years and the addition of more jobs than expected. This will likely keep the Federal Reserve on track to tighten monetary policy this month, keeping stocks at a reasonable level in the morning session.
The S & P 500 was down 0.3% and was considering its first round of four-day losses in a month. For the week, the benchmark is so far down 1.1%, which will be its worst performance since the last week of June.
Consumer staples, up less than 0.1%, were the only sectors in the S & P 500 to be in the dark at the start of lunch. The most affected materials were materials, down 0.9%, utilities down 0.8%, and industrials down 0.5%.
The Dow Jones Industrial Average, composed of many stocks likely to be affected by a global trade war, lost 0.6%, while the Nasdaq Composite lost 0.1%.
Technology stocks have been under strong selling pressure this week. Social media was hit hard by corporate executives on Wednesday before the US Congress, and on Thursday, semiconductor stocks led the decline after the chief executive of Micron Technology announced a drop in Nand chips prices in the third quarter.
The employment report backed the dollar, the DXY index, which tracks the US dollar against a basket of global peers, up 0.3% to 95,341.
Government bonds were sold after the number of jobs. The benchmark 10-year US Treasury yield climbed 5.3 basis points to 2.9296% and had reached 2.95% earlier today for the first time in a month.
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