Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end lower on Wednesday


US markets end lower on Wednesday

The US markets ended lower on Wednesday after a US think tank said analysis of new satellite images of activity at a North Korean long-range rocket site suggests Pyongyang may be rapidly rebuilding the test facility that it pledged to dismantle. The Center for Strategic and International Studies said the images were taken two days after the second summit between President Donald Trump and North Korean leader Kim Jong Un ended without an agreement late last month. The two leaders cut short their discussions after Kim's request for a full withdrawal of sanctions in return for the communist country's willingness to abandon nuclear weapons was rejected. Further, traders also reacted negatively to a report from payroll processor ADP showing US private sector job growth slowed in February after an upwardly revised spike in January. ADP said private sector employment increased by 183,000 jobs in February after soaring by an upwardly revised 300,000 jobs in January. Street had expected employment to climb by 189,000 jobs compared to the addition of 213,000 jobs originally reported for the previous month.

Meanwhile, a separate report from the Commerce Department showed the US trade deficit widened by more than anticipated in December, as imports jumped and exports slumped. The Commerce Department said the trade deficit widened to $59.8 billion in December from a revised $50.3 billion in November. Street had expected the deficit to widen to $57.9 billion. The substantial monthly increase drove the US trade deficit to its highest level since reaching $60.2 billion in October of 2008. The trade deficit for 2018 was also the biggest since 2008, widening to $621.0 billion from $552.3 billion in 2017 as Trump ramped up his trade war with China.

Dow Jones Industrial Average slipped 133.17 points or 0.52 percent to 25673.46, S&P 500 declined 18.20 points or 0.65 percent to 2771.45 and Nasdaq was down by 70.44 points or 0.93 percent to 7505.92.

Related News

View all news

US markets end lower on Friday

The US markets ended lower on Friday on account of profit booking after yesterday's strong upward move.  Lingering uncertainty about trade talks between the US and China weighed on the markets......

US markets end higher on Thursday

The US markets ended higher on Thursday as a batch of largely upbeat US data offset economic concerns raised by the Federal Reserve no longer forecasting interest rate hikes this year. The Labor Department......

US markets end mostly lower as trade worries flare up again

The US markets ended mostly lower on Tuesday, on reports that US negotiators are concerned that China is pushing back against American demands. Chinese officials are reportedly indicating that the US has......

Top News

View all news

Infosys to enter into agreement with The House Fund II

Infosys is going to enter into an agreement with The House Fund II, L.P., an AI-focused fund targeting startups from the University of California - Berkeley, committing to invest $10.0 million.......

EID Parry receives approval for investment Rs 70 crore in PSRIPL

EID Parry (INDIA) has received approval for investment upto Rs 70 crore in the equity share capital of Parry Sugars Refinery India (PSRIPL), a wholly owned subsidiary of the Company. The Board of directors......

SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds

State Bank of India (SBI) has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds. The Committee of Directors for Capital Raising at its meeting held on 22 March 2019 deliberated and accorded......