"Everybody is bracing for that", Kleintop said of expected US tariffs on $50 billion to $60 billion worth of annual imports from China that will likely intensify U.S.
"The market is repricing stocks accordingly", says Quincy Krosby, chief market strategist at Prudential Financial. -China trade spat offset a drop in USA drilling activity.
The Dow was down 1.02 per cent at 23,787.67. The Nasdaq Composite Index and the S&P 500 index are on track for their best comebacks since Feb 9, when the Nasdaq tumbled 2.2% to end up 1.4% and the S&P 500 logged a 1.5% gain after being down 1.9% on the day.
The retaliation was the latest sign that trade conflicts between the USA and major trading partners are escalating, something analysts have cited as a primary risk for equities this year (http://www.marketwatch.com/story/geopolitical-risk-is-at-a-nearly-three-year-high-heres-why-thats-not-a-reason-to-sell-stocks-2018-01-08).
At 11:20 a.m. ET. The technology index .SPLRCT was down 2.7 percent.
Wholesale gasoline dropped 5 cents to $1.97 a gallon. Only consumer staples sat higher on the day. But, while Washington's list covers many obscure industrial items, Beijing's covers 106 key USA imports including soybeans, planes, cars, and chemicals.
Fortnite for iOS Opens to Everyone, Invites No Longer Needed to Play
Thus, this made the game lead the Online Multiplayer games since it was launched back in September 2017. We're questioning how Epic Games could explain a Vending Machine fitting into a player's pocket though.
Oklahoma teachers hold second day of walk-out protests
The numbers may be smaller in the second day event as teachers from smaller, rural districts may not be able to take part. But Priest said teachers reject the argument that there isn't enough money to provide additional funds for classrooms.
Deadly California cliff auto wreck possibly intentional
Three of their six adopted children, Markis, 19, Jeremiah, 14, and Abigail, 14, were also found dead in the vehicle. Deputies searched the home for bills, receipts or other evidence that could reveal why the family left.
"We import a lot of technology from China", said Paul Nolte, a senior vice president and portfolio manager at Kingsview Asset Management. Ford and General Motors also climbed.
Large technology companies also saw their shares continue to slump, with Amazon (AMZN), Apple (AAPL), Google-parent Alphabet (GOOGL) and Facebook (FB) all seeing declines on the day. Samsung Electronics fell 2.02 percent. 28 of the 30 constituents of the Philadelphia semiconductor index were lower. It was down as much as 639 in early afternoon trading.
The Dow, which is now 11.2% below its January 26 all-time high, fell deeper into correction territory.
Oil dropped to a two-week low on Wednesday, but crude bounced off session lows when US data showed a weekly decline in crude stocks, instead of the increase analysts had expected.
Tyson Foods dropped 6.2 percent after China raised tariffs on imported US goods including pork.
Brent crude futures fell 47 cents to $67.65 a barrel, a 0.7-per-cent loss. The contract plunged $1.93 on Monday to close at $63.01.
In the USA, all 11 S&P sectors are lower, with industrials (-1.8%), materials (-1.8%) and energy (-1.8%) the worst performers, while utilities (-0.6%), consumer staples (-0.3%) and real estate (-0.3%) hold up relatively well.