US stocks dip on weak data from Europe, Japan

Traders work on the floor of the New York Stock Exchange February 8, 2019. — Reuters pic
Traders work on the floor of the New York Stock Exchange February 8, 2019. — Reuters pic

NEW YORK, Feb 21 — stocks fell early today following lacklustre economic data from Japan and Europe while high-stakes trade talks between the United States and resumed.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.5 per cent at 25,834.72.

The broad-based S&P 500 also shed 0.5 per cent to 2,771.10, while the tech-rich Nasdaq Composite Index declined 0.6 per cent to 7,444.84.

Fresh economic data showed that manufacturing in both the eurozone and Japan shrank in February, drops seen as evidence of sluggishness amid the US-China trade fight.

In Washington, top and US trade officials returned to the bargaining table as the two sides worked to bridge a chasm between the world’s two largest .

Analysts say the distance separating Washington and Beijing and the short time remaining before the March 1 deadline for new US tariffs make it likely the outcome will feature banner announcements but fall short of US President Donald Trump’s most far-reaching goals to remake the trading relationship.

Among individual stocks, Dow member Nike fell 1.0 per cent after a high-profile sneaker failure involving star college basketball player Zion Williamson.

Playing for Duke University in a game against archrival University of North Carolina, Williamson left the game with an injury less than a minute after the start when his shoe ruptured. — AFP

Source: The Malay Mail Online

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