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11/2/2018, 6:05 PM (Source: TeleTrader)
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Dow sinks 300 pts after Kudlow's trade remarks

The Dow Jones Industrial Average briefly fell over 300 points on Friday after White House economic adviser Larry Kudlow commented on trade talks between President Donald Trump and his Chinese counterpart Xi Jinping expected to take place at the G20 summit in Buenos Aires. Kudlow said trade will be the main focus of the talks, stressing that Beijing already knows all of Washington's requests.

The Dow Jones fell 311 points at 6:04 pm CET, but it rebounded shortly to trade 1.0% in the red or approximately 256 points lower at 6:09 pm CET. The Dow losses were led by Apple Inc, with the stock dropping 6.96% at 6:13 pm CET following yesterday's earnings report. The Nasdaq 100 plunged 1.99% or over 140 points at 6:10 pm CET. The worst performer was The Kraft Heinz Company, losing 9.23% at 6:13 pm CET, followed by Apple Inc. losses of 6.96% at the same time The S&P 500 lost 1.26% at 6:10 pm CET.

The euro decreased 0.26% against the dollar to change hands for 1.1378 at 6:11 pm CET.

Breaking the News / SS