Wall Street Rattled Anew by US-China Trade Worries: Markets Wrap

Resurgent trade tensions slammed Wall Street anew Tuesday, sending stocks, crypto and oil lower while reinforcing a bid for the safest corners of the market from haven currencies to gold.

Following a brief bounce, the S&P 500 retreated as President Donald Trump said he might stop trade in cooking oil with China, injecting fresh tensions into the relationship between the world’s two largest economies. His remarks also came after the Asian nation sanctioned US units of a South Korean shipping giant, escalating a dispute over maritime dominance.