Stocks slump as U.S.-China trade talks stall

|About: NASDAQ Composite Index (COMP)|By:, SA News Editor

U.S.-China trade talks have stalled, CNBC reports, citing unnamed sources.

Stocks drop sharply, with the Nasdaq losing 0.9%, the S&P sliding 0.6%, and the Dow off 0.4%.

Treasuries perk up, with 10-year yield at about 2.387% vs. 2.408% earlier in the session.

Scheduling discussions haven't occurred since the Trump Administration increased its pressure on Chinese telecom companies, the sources said.

Crude oil also turns red, now down 0.3% to $62.71 per barrel.

Among S&P 500 sectors, energy (-1.1%), industrials (-1.0%), and information technology (-0.8%) decline the most.

Previously: Trump order will ban some foreign telecom equipment; NOK, ERIC gain (May. 15 2019)

Subscribe for full text news in your inbox