Trade tensions slam Wall St. as global growth worries mount [Reuters]
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Source: Reuters
Trade tensions slam Wall St. as global growth worries mount - Reuters 4 Min Read NEW YORK (Reuters) - U.S. stocks slumped on Thursday as investors dumped shares of companies in growth and cyclical sectors, with energy and technology leading declines, on fears that the escalating U.S.-China trade war would stymie global economic growth. Further fueling trade fears among investors, Beijing said that Washington needs to correct its “wrong actions” for trade talks to continue after the United States blacklisted Huawei Technology Co Ltd last week. Among S&P 500 sectors, only utilities and real estate, both considered defensive areas, registered gains as investors moved to safe-haven assets such as Treasuries. Stocks pared losses in the last hour of trading, but Wall Street’s major indexes all ended more than 1% lower. “It looks less and less like there will be a near-term resolution to the trade war, and the market is obviously spooked on that,” said Lamar Villere, partner and portfolio ma
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