Dow Jones Industrial Average falls 350 pts after Trump advisor says ‘sizable distance’ remains in China-U.S. trade talks

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February 7, 2019 12:12pm INDEXDJX:.DJI NYSE:DIA

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From Mark Decambre: U.S. stock benchmarks traded at session lows late-morning Thursday after White House Adviser Larry Kudlow said a “sizable distance” remains between the U.S. and China in protracted trade negotiations. President Donald Trump’s national economic council director on Thursday made his comments during an interview with Fox Business Network. Kudlow said previous talks covered “a tremendous amount of ground” but said enforcement will be very important, as well as technological and structural issues. The Dow Jones Industrial AverageDJIA, -1.41% was trading down 329 points, or 1.3%, at 25,075, the S&P 500 indexSPX, -1.51% declined by 1.4% at 2,693, while the Nasdaq Composite IndexCOMP, -1.74% retreated by 1.6% at 7,258. Longstanding trade disagreements between Beijing and Washington have been among the most crucial headwinds for the stock market in the past several months. Separately, CNBC, citing sources, reported that Trump and Chinese President Xi Jinping were unlikely to meet before a March 1 deadline for tariffs to increase on Chinese goods.

The SPDR Dow Jones Industrial Average ETF (DIA) was trading at $250.89 per share on Thursday morning, down $2.98 (-1.17%). Year-to-date, DIA has gained 2.26%, versus a 1.25% rise in the benchmark S&P 500 index during the same period.

DIA currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #4 of 82 ETFs in the Large Cap Value ETFs category.

This article is brought to you courtesy of MarketWatch.

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