Day Traders Diary
Stocks fell on Tuesday as a decline in interest rates during the U.S.-China trade war sparked worries about a possible slowdown in the economy.
The Dow Jones Industrial Average finished down 237 points at 25,347, giving up a 131-point gain from earlier in the day. The S&P 500 pulled back 0.8% while the Nasdaq Composite fell 0.4%. The major indexes slid to their session lows in the last hour of trading. The yield on the benchmark 10-year note fell to around 2.26%, its lowest level in 19 months.
On the sector front, consumer staples fell 1.8%, utilities fell 1.6% and health care dropped 1.4%. The Dow Jones Transportation Average (-1.3%) was another laggard, as investors remained concerned about a protracted trade war with China.
A few stocks closed in the green for the day. Advanced Micro Devices (AMD) rose 9% on an upgrade along with the introduction of new chips. On the merger front, Total System (TSS) rose 4.8% after agreeing to merge with Global Payments for $21 billion. Fiat-Chrysler (FCAU) rose 7.2% on rumors of a merger with Renault.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.