Stock Market News For Sep 25, 2019
Zacks Investment Research | Sep 24, 2019 09:54PM ET
Major indexes closed in the red on Tuesday after President Donald Trump accused China as he spoke to the United Nations General Assembly. Wall Street was also affected negatively due to a sharp fall in September’s consumer confidence and on chances of the House of Representatives officially carrying out impeachment proceedings against Trump.
The Dow Jones Industrial Average declined 0.5% to close at 26,807.77 on Sep 24. The broader S&P 500 and Nasdaq Composite took the road south as well, shedding 0.8% and 1.5% respectively. The former closed at 2,966.60 and the latter finished the day at 7,993.63. The fear-gauge CBOE Volatility Index (VIX) rose 14.4% to close at 17.05 on Tuesday. Finally, decliners outnumbered advancers on the NYSE by a 1.31-to-1 ratio.
Trump Accuses Beijing on Trade and Other Issues
On Sep 24, U.S. stocks had started the day on a higher note after following Treasury Secretary Steven Mnuchin’s comments about U.S.-China trade talks resuming in two weeks in Washington. But markets turned red after Trump commented critically on China.
Addressing the United Nations General Assembly on Tuesday, Trump said he wouldn’t agree to a bad trade deal with the Asian Country. Trump said that the United States wanted to stop the "grave economic injustice" of unfair trading practices, singling out China in his remarks.
Trump highlighted various issues with the Asian country such as currency manipulation, forced technology transfers, product dumping and intellectual property thefts. He also criticized China’s economic model that is dependent on huge market barriers and high state subsidies.You can see Zacks Investment Research
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