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12/13/2019, 3:31 PM (Source: TeleTrader)
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Wall Street opens lower on US-China trade deal news

Shares on United States stock markets opened the trading session in the red on Friday after US President Donald Trump rejected the claims from yesterday's report that tariffs on Chinese imports will be reduced by 50% and that potential December 15 tariffs will be scrapped. In China, government officials pointed out that any trade agreement between the two sides has to be based on "mutual respect."

Meanwhile, the US Census Bureau announced today that retail sales in the country increased by 0.2% in November.

The Dow Jones Industrial Average index fell by 0.07% at the open. United Technologies was the worst performer, losing 0.61% at 9:32 am ET.

The Nasdaq 100 contracted by 0.15% at the opening bell. Broadcom led the losses, plunging 3.90% at 9:34 am ET.

The S&P 500 declined by 0.15% in the first minute of trading. Clothing company Hanesbrands decreased the most, falling by 4.28% at 9:31 am ET.

The euro increased by 0.26% against the dollar to trade at 1.11615 at 9:29 am ET, while the pound jumped 1.20% compared to the US currency, going for 1.33294 at the same time.

Breaking the News / MS