Wall Street falls on the first trading day of September; trade tensions weight

The US stocks market closed the first trading day of September with losses as investors are concerned about trade conflicts between the United States and the rest of the world. All three major indexes closed down.

Last week, United States announced an agreement with Mexico to replace NAFTA, but another deal with Canada was a conditional for a new NAFTA treaty. Both, the United States and Canada failed to reach an agreement before its deadline, Friday, August 31.

After a long weekend, investors watched how US president Donald Trump intensified its language about trade and added gas to the problem. He even twitted that there was “no political necessity to keep Canada in the new NAFTA deal.”

In this framework, the US stocks market traded depressed on Tuesday. The S&P 500 declined 4.80 points or 0.17% to close the day at 2,896.72. The Dow Jones Industrial Average lost 12.34 points and finished 0.05% down on Tuesday at 25,952.48.

S&P 500 daily chart September 4

S&P 500 daily chart September 4

The NASDAQ Composite ended the day 0.23% down after losing 18.29 points to 8,091.24. The Russell 2000 lost 0.42% to 7.38 points to finish the day at 1,733.38.

By industries, most sectors finished Tuesday down for the day. The worse performers were real estate with 0.87% loses, followed by consumer staples with a 0.67% decline, and health care with a drop of 0.51% on Tuesday.

The leaders were consumer discretionary with a 0.27% increase, followed by utilities with a 0.09% advance, and industrials with a 0.01% gain.

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