US stocks fall on Hong Kong protests, trade worries

Traders work on the floor at the New York Stock Exchange August 7, 2019. — Reuters pic
Traders work on the floor at the New York Stock Exchange August 7, 2019. — Reuters pic

NEW YORK, Aug 12 — stocks fell early today as unrest in Hong Kong added to lingering anxiety over weakening growth and the grinding US- trade war.

Authorities said more than 5,000 people descended on the Hong Kong airport today carrying placards and chanting slogans about police violence, shutting the normally-busy hub.

The demonstration came on the heels of last week’s escalations in the US-China trade fight that many economists see as a factor in a slowdown in leading .

About 15 minutes into trading, the Dow Jones Industrial Average lost 0.8 per cent to 26,083.00, and the broad-based S&P 500 dropped a similar amount to 2,895.18.



The tech-rich Nasdaq Composite Index fell 0.9 per cent to 7,890.31.

Key economic releases this week include retail sales and consumer price readings for July, as well as housing starts for the same period.

The earnings calendar includes a spate of reports from leading retailers, including Walmart and Macy’s that are expected to offer a window into the on-the-ground effects of the trade war on American consumers. — AFP

Source: The Malay Mail Online





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