Thu, 01 Oct 2020

Dow dives 105 points in negative start to week

Lola Evans
10 Dec 2019, 10:26 GMT+10

NEW YORK, New York - Wall Street was weaker at the start of the week, with falls across the board on Monday.

With a new round of trade tariffs due to be implemented by the U.S. next Sunday, the focus once more is on the U.S.-China trade talks.

"The market is in a little bit of a wait-and-see mode," Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana told Reuters Thomson Monday.

"All eyes are still on what is going to happen with the tariff situation come December 15th," he said. "That's still the biggest near-term factor that is probably going to influence trading."

At the close of trading Monday, the Dow Jones Industrial Average had dived 105.46 points, or 0.38%, to 27,909.60.

The Standard and Poor's 500 fell 9.94 points, or 0.32%, to 3,135.97.

The Nasdaq Composite lost 34.70 points, or 0.4%, to 8,621.83.

On foreign exchange markets the U.S. dollar was little changed. Against the euro it was fetching 1.1066 around the New York close Monday. The British pound was unchanged, but strongly bid at 1.3146.

The Japanese yen was unmoved at 108.59. The Swiss franc edged up to 0.9879.

The Canadian dollar was also slightly higher at 1.3236.

The Australian dollar drifted down to 0.6827. The New Zealand dollar was unchanged at 0.6552.

On ov erseas markets the FTSE 100 in London fell 0.08%. The German Dax shed 0.46%, while the Paris-based CAC 40 slid 0.59%.

On Asian markets, in Japan the Nikkei 225 jumped 76.30 points or 0.33% to 23,430.70.

China's Shanghai Composite edged up 2.46 points ot 0.08% to 2,914.48.

The Australian All Ordinaries added 22.90 points or 0.34% to 6,836.40.

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