PressTV-US stocks tumble on US-China trade jitters

US stocks tumbled again Thursday, knocking 600 points off the Dow Jones Industrial Average and putting the benchmark S&P 500 on track for its worst week since March.

The broad market decline came as the arrest of a senior Chinese technology executive overshadowed some positive comments on trade from Beijing and threatened to worsen trade tensions between the US and China.

The lingering trade dispute has deepened investors’ worries that the prospects for global economic and corporate earnings growth could be dimming.

Traders continued to shovel money into bonds, a signal that they see weakness in the economy ahead. The yield on the 10-year Treasury note fell to 2.85 percent from 2.92 percent on Tuesday, a large move.

US stock and bond trading were closed Wednesday because of a national day of mourning for President George H.W. Bush.

“The market seems right now to be focused on increased risks for a 2020 recession,” said Patrick Schaffer,…

Read more