USA markets sink on worries over slowing growth, trade truce outcome

At 1:16 pm ET the Dow Jones was down 565.16 points at 25,261.27 the S&P 500 was down 62.55 points at 2,727.82 and the Nasdaq was down 196.65 points at 7,244.86

Large banks were among the big losers, with JPMorgan Chase shedding 4.4 percent, Bank of American losing 5.7 percent and Citigroup 5.6 percent.

The S&P 500 .SPX posted its biggest single-day percentage drop in about two months, giving back some gains from Monday and a week earlier, when the benchmark index tallied its largest weekly percentage gain in almost seven years. A report issued Tuesday from a Swiss freight company noted that global trade grew just 0.3 percent last month, compared to 3.1 percent for November 2017.

Trade-sensitive shares were undermined by a failure by Donald Trump's aides to detail the deal that he said he had struck with China, eroding confidence in the agreement, which still doesn't exist on paper and hasn't been confirmed by Beijing.

Stock and bond trading will be closed in the U.S. Wednesday in observance of a national day of mourning for former President George H.W. Bush.

The Dow Jones Industrial Average fell by more than 700 points in Tuesday trading, continuing a shaky start to the week prompted by confusion over a thaw in U.S.

A woman looks at an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, Dec. 5, 2018. The Nasdaq fell 197 points, or 2.7 per cent, to 7,244. The FTSE 100 in Britain lost 2.2 percent to 6,767.

Trump tweeted Tuesday morning about negotiations on a trade deal with China and Chinese President Xi Jinping, reiterating that new tariffs could be implemented in addition to existing tariffs if the talks are unsuccessful.

Twitter found Oscars host Kevin Hart's homophobic jokes
Earlier in the day, he said that he is in a "great, mature place" now and asked people not to judge him by his past. The film academy didn't respond to messages Thursday evening. "It would be great to say I had that moment".

Buzzcocks frontman Pete Shelley dies aged 63
It did not elaborate on the details of Shelley's death but said that more information would be released later. The band released their debut Spiral Scratch EP the next year and Devoto left the group shortly afterwards.

Grace Millane: 'Concern grows' for backpacker missing in New Zealand
The witness, who asked not to be named, told the New Zealand Herald she believed she saw her standing by the Manukau on-ramp. DI Beard said the Briton's relatives were understandably "distraught" and her father was on his way to New Zealand.

Trump, in a series of Twitter posts, threatened to slap a range of import penalties on Chinese products if they did not make major changes in their economic relationship with the United States. Small-cap stocks were hit hard, with the Russell 2000 Index falling 68.21 points, or 4.4%.

FED WATCH: Markets got jolt from remarks by the president of the Fed's NY regional bank.

Bond prices rose sharply. The slide in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks.

The financials sector edged down 1.7 per cent. Bank of Montreal fell 3.5 per cent, after Canada's fourth-biggest lender reported fourth-quarter earnings, ending a mixed earnings season for Canada's biggest banks.

Oil prices rose. OPEC members are expected to agree at a Thursday meeting to cut output in 2019. Brent crude, the global standard, added 0.9 per cent to $62.22 per barrel in London. The euro strengthened to $1.1349 from $1.1342.

Gold gained 0.6 percent to $1,246.60 an ounce.

Related news:

Hot News

isis-killer-beheading-video-story-top New Game Of Thrones Season 8 Teaser Points To An Epic Showdown
Dec 07, 2018 - 09:29
Follow Business Insider Australia on Facebook , Twitter , LinkedIn , and Instagram . Winter may be here, but the final season of the epic HBO series is still coming.

isis-killer-beheading-video-story-top Meghan Markle's Aritzia Winter Coat Should Be In Everyone's Closet This Season
Dec 07, 2018 - 09:28
Over the last couple of weeks, reports have suggested that there is some animosity between Meghan Markle and Kate Middleton . The Duchess of Sussex is also said to be drawing up plans for a nursery at their new Windsor residence, Frogmore Cottage.

isis-killer-beheading-video-story-top ‘Avengers’ Director Says Chris Evans ‘Is Not Done Yet’ Playing Captain America
Dec 07, 2018 - 07:43
Interestingly, in another interview, the Russos confessed they'll be "taking a break from superhero movies" after the release of Avengers 4.

isis-killer-beheading-video-story-top Five Croatian Tennis Players Confirmed for Australian Open
Dec 07, 2018 - 07:29
The tournament begins January 14 at Melbourne Park with Roger Federer and Caroline Wozniacki as singles defending champions. Serena Williams reacts after winning a point against Anastasija Sevastova, of Latvia, during the semifinals of the U.S.

isis-killer-beheading-video-story-top Analysts fear Canadian businesses at risk of retaliation after Huawei arrest
Dec 07, 2018 - 06:26
David Mulroney, a former Canadian ambassador to China, said US and Canadian business executives could face reprisals in China. MSCI's benchmark for global stocks declined 0.61 percent, and USA markets were on track to open lower by 1 percent or more.

isis-killer-beheading-video-story-top Official! Superstar Rajinikanth's '2.0' overcomes huge collection barrier
Dec 07, 2018 - 05:24
It seems like Rajinikanth's latest release 2.0 is not going to slow down at the box office anytime soon. "500 crores worldwide. We at Dharma Movies are so proud to be associated with the Hindi version of this movie marvel".

isis-killer-beheading-video-story-top Liquid Biopsy Detects Epigenetic Signature Common to All Cancers
Dec 07, 2018 - 04:47
It could be useful, however, if clinicians might not ever see a patient again in a rural area and need rapid results. Many liquid biopsy tests focus on specific cancer-related sequences in the free-floating DNA for early detection.

isis-killer-beheading-video-story-top Google's chat plans: Kill Allo, upgrade Duo and invest in Messages
Dec 07, 2018 - 04:14
Hangouts will live on as an enterprise tool, while Allo's features are being integrated in the Android messaging app Messages. Allo is no longer being developed or invested in, and as of March 2019 it will stop working entirely.

isis-killer-beheading-video-story-top Ever Baby Born Thanks to Transplant Uterus From a Deceased Donor
Dec 07, 2018 - 03:45
This implantation was months earlier than previous attempts, which received an embryo at least a full year after the transplant. The recipient was given drugs that weakened her immune system to prevent her body from attacking and rejecting the transplant.

isis-killer-beheading-video-story-top Markelle Fultz diagnosed with nerve injury that 'severely' limits ability to shoot
Dec 07, 2018 - 02:21
Thoracic outlet syndrome involves compression or irritation in the thoracic outlet (area between lower neck and upper chest). There was a Sixers medical team member on each of the visits to the specialists, Brothers said.

isis-killer-beheading-video-story-top Girl gets suspended for bullying, father makes her walk to school
Dec 07, 2018 - 01:51
She has a "new appreciation for some of the simple things in life she used to take for granted", he posted later. According to Cox, it was the second time his daughter was temporarily removed from the bus for such behavior.

isis-killer-beheading-video-story-top Jose Mourinho on Diogo Dalot's performance for Manchester United vs Arsenal
Dec 07, 2018 - 01:50
Speaking on Match of the Day , Keown said: "The fighting qualities they [Liverpool FC] showed tonight were outstanding".

isis-killer-beheading-video-story-top Offset’s Alleged "Cheating" Partner Responds To Leaked Texts Following Cardi B Split
Dec 06, 2018 - 23:34
The online name claims she is the reason behind the breakdown of Cardi and Offset's 15-month marriage. Some observers are still wondering if Cardi B's sudden split from Offset is just a publicity stunt.

isis-killer-beheading-video-story-top Soyuz Rocket Launches, Docks Successfully To Relief Of NASA, Russia Space Agency
Dec 06, 2018 - 23:12
One of Canada's newest astronauts, Jenni Sidey-Gibbons, grinned broadly as the rocket carrying Saint-Jacques launched. Crate Club is the #1 men's subscription box containing some of the best tactical & survival gear in the nation.

isis-killer-beheading-video-story-top Michelle Obama and Meghan Markle meet secretly in London
Dec 06, 2018 - 22:42
She completed the look with black slouchy suede boots that were covered to the mid-calf by the top of her skirt. Meghan wore the Cocoon Coat in Myth, a very pale blush pink colour.