Worries that a deal with China is going to be harder to come by, and likely take longer, helped send stocks lower during today’s trading session. Stocks were already under some pressure from less than stellar news out of Europe, where growth is extremely difficult to come by, when a report from the White House indicated that we still aren’t close to a trade deal with China.
For the day, the Dow Jones Industrial Average was down 220 points to close at 25,170. The S&P 500 was down 25 points to finish the day at 2,706. Gold was down $1 to trade at $1,313 per ounce, while oil was down $1.36 to trade at $52.64 per barrel WTI.
As we mentioned yesterday, a pause after the advance we’ve had so far in 2019 is not a bad thing. This was a market looking for a headline to do a little selling. They got one today. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.