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Stocks fall as Trump’s legal troubles, trade war put markets on edge



Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 4, 2017. REUTERS/Brendan McDermid
work on the floor of the NYSE in New York

Thomson Reuters

All three major US indices slumped Thursday, one day after the
S&P 500 set a record for its longest bull run in history, as
Trump’s legal woes and escalating trade tensions continued to
loom over Wall Street. The dollar
jumped, and Treasury yields fell. 

Here’s the scoreboard:

Dow Jones industrial
25,648.92 −84.68

 2,855.27 −6.55

7,878.46 −10.64 (-0.13%)

  1. The Trump administration enacted tariffs on an
    additional $16 billion worth of Chinese goods, prompting an
    in-kind response from Beijing.
     The actions came
    as the countries entered their second day of mid-level trade
    where little progress was expected.
  2. Central bankers descended on Jackson Hole, Wyoming for
    a two-day symposium. 
    The annual meeting comes a
    day after the Federal Reserve signaled in meeting minutes it
    would raise rates “soon” and will be followed by a
    closely-watched speech from Fed Chair Jerome Powell.
    Here’s a look at what to watch for.
  3. Earnings season rolls on. Alibaba‘s revenue
    jump of 61%
     year-over-year after a boost in online

And a look at the upcoming economic calendar:

  • Core durable goods numbers are out in the US. 
  • Fed Chairman Jerome Powell speaks in Jackson Hole. 
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