U.S. stocks shook in midday trading on Thursday, as trade tensions dragged down financial markets; the S& P 500 closed almost flat, while the Dow Jones index rose slightly.
The Dow Jones industrial average rose 70.11 points or 0.29 percent to 24,597.38; the S&P 500 index fell 0.04 points or 0.02 percent to 2,650.54; and the Nasdaq index fell 27.98 points or 0.39 percent to 7,070.33.
The Dow Jones Industrial Average rose slightly. The S& P 500 index’s hopes of making progress in Sino-US trade negotiations rose, but failed to sustain its gains.
Investors are closely following the latest developments in Global trade disputes. China resumes importing US soybeans. Beijing reiterates its close ties with the US and negotiates details of a broader agreement.
However, doubts about trade disputes remain. China detained and examined the second Canadian citizen, further exacerbating tensions between the two countries. U.S. Commerce Secretary Ross said China needed to take more action if trade tensions with the United States were to be eased.
Omar Aguilar, head of equity investment at Credit Suisse Financial Investment Management, said: “The market has been very tense, investors were optimistic, and then they fell back into worry. The scope of the new market is quite wide, including the Federal Reserve (Fed) interest rate hike, the flattening of the U.S. Treasury bond yield curve, the U.S. -China trade negotiations, the situation in Britain and Italy, and the uncertainty of EU monetary policy.