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1/14, 7:58 PM (Source: TeleTrader)
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Stocks slide after report China tariffs will stay through 2020 election

Major US stock indices pared gains on Tuesday after the media reported that the United States does not intend to remove tariffs on billions of Chinese goods until after the presidential election in November, with the Nasdaq 100 and the S&P 500 sliding into negative territory.

According to sources familiar with the agreement, Washington is likely to keep the tariffs on Chinese products and will only review progress and potentially cut levies if it concludes that China is fully complying with the accord 10 months after it enters into force.

The Dow Jones struggled to remain above the flat line, rising a modest 0.07% or 21 points at 2:02 pm ET, after it gaining over 100 points earlier in the session. The Nasdaq 100 turned to losses, dipping 0.41% at 2:03 pm ET, while the S&P 500 declined by 0.24% at the same time.

The euro lost 0.06% against the US dollar, going for 1,11315 at 2:05 pm ET.

Breaking the News / GG