Stocks Decline as Investors Assess Trade Tensions: Markets Wrap
- Trump says will reach trade deal with China; tech weighs
- Hiring tops estimates, wage gains accelerate in October
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Stocks fell as investors assessed whether the U.S. and China will be able to ease trade tensions. Apple’s poor forecast hit tech-heavy indexes, while Treasuries declined after U.S. hiring rebounded more than forecast in October.
The S&P 500 dropped for the first time in four days, though the benchmark still had its best week in six months. The index pared about half of Friday’s loss that reached as much as 1.5 percent after President Donald Trump said he thinks the U.S. will reach a trade deal with China. Those comments countered earlier remarks by his adviser Larry Kudlow that had deepened the slide. The Nasdaq 100 paced declines as Apple retreated after underwhelming sales forecasts, while small caps edged higher.