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5/9/2019, 10:00 PM (Source: TeleTrader)
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US stocks close in red on trade worries

Equities on Wall Street finished the Thursday's turbulent trading session below the flatine as the focus of the market remained on the next round of trade negotiations between Washington and Beijing. United States President Donald Trump claimed a trade deal between the world's biggest economies was still possible, despite previously accusing China of "backtracking" on its promises. The Asian country denied the allegations and expressed its commitment to the negotiations, while also warning it was prepared of "safeguarding its rights and interests."

The Dow Jones Industrial Average was down 0.54% at the closing bell with Intel Corp. being the worst performer, losing 5.32%. The Nasdaq closed 0.46% lower, weighed on by the tech sector. The S&P 500 dropped 0.30% at the same time as Occidental Petroleum Corp. plunged 6.44% after it outbid Chevron Corp. for Anadarko Petroleum Corp.

The euro was up 0.25% to $1.12194 at 3:59 pm ET, while the British pound increased 0.07% to $1.30146 concurrently. Falling stocks pushed investors to buy more gold, driving its price 0.24% higher to $1,283.99 at 3:59 pm ET. However, other precious metals depreciated, with palladium sliding 1.48% at to change hands for $1,299.48 3:59 pm ET.

Breaking the News / MD