U.S. Stocks Slide Amid Conflicting Signs on Trade: Markets Wrap
- China’s top trade negotiator ‘cautiously optimistic’ on deal
- But tensions remain over U.S. bill backing Hong Kong protests
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U.S. equities slid following losses in Europe and Asia as traders weighed conflicting signals about the outlook for a trade deal between Beijing and Washington.
The S&P 500 Index fell for a third day, the longest losing streak in almost two months, but remained within 1% of a record high. The dollar held steady and Treasuries dipped as China’s chief trade negotiator reportedly said he was “cautiously optimistic” about reaching a phase-one accord. Pessimists focused on speculation Donald Trump may sign legislation backing Hong Kong protesters, setting up further conflict between the nations. TD Ameritrade soared on reports that Charles Schwab Corp. is in talks to buy the brokerage.