The Dow bounced back from its earlier losses Friday after Treasury Secretary Steven Mnuchin and President Trump characterized talks with Chinese negotiators as 'constructive.' But the trade turmoil this week still gave the index its worst week since March.
New York The Dow bounced back from its earlier losses on Friday after Treasury Secretary Steven Mnuchin and President Donald Trump characterized talks with Chinese negotiators as"constructive." But the trade turmoil this week still gave the index its worst week since March.
The Dow finished up 114 points, or 0.4% higher — a big recovery after being down as much as 300 points earlier in the day. Mnuchin's comments to CNBC led stocks to move off their lows. Trump followed them up with a tweet, saying the talks would continue and calling his relationship with China's President Xi Jinping"strong."The S&P 500 and Nasdaq also rebounded. Both snapped a four-day losing streak, but still had their worst week since December.
— Donald J. Trump May 10, 2019 Trump also said"the process has begun to place additional tariffs at 25% of the remaining 325 billion dollars" worth of goods.Markets went on a wild ride this week, as investors had assumed a trade deal between the world's two largest economies was close. Instead tensions escalated once again.
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