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US markets on Wall Street opens lower as trade tensions persist

2019-08-20 02:03 pm | Resource: News | No Views : 26

US markets on  Wall Street opens lower as trade tensions persist

US markets opened in the red on Tuesday as trade tensions between the United States and China continue to weigh on markets. US Secretary of State Mike Pompeo urged China to protect freedom of expression for Hong Kong citizens after Vice President Mike Pence said earlier that Beijing's respect for the integrity of the autonomous region and laws were a condition for any trade deal. In other news, analysts predicted that the Federal Reserve will cut US interest rates five more times by April 2020.

Bombo: China should protect freedom of expression in Hong Kong

US Secretary of State Mike Pompo said Tuesday that China should protect the freedom of expression of Hong Kong citizens. Vice President Mike Pence stressed yesterday that Beijing's respect for the integrity and laws of Hong Kong is a condition for reaching a trade agreement. At the same time, China believes that the United States is affecting demonstrators seeking to maintain their independence from the mainland.

Pompeo also commented that Washington was no longer talking to Pyongyang "as fast as it had hoped", although it knew there would be "bumps on the road" in the process.

Expects five additional rate cuts by April 2020

The Federal Reserve is likely to cut interest rates in the United States five more times by April 2020, analysts at Danex Bank said on Tuesday. This prediction means that the Fed will cut interest rates by 25 basis points at each of its next five meetings to reach rates between 0.75% and 1% at its March meeting.

 Wall Street Openings
  • The Dow Jones Industrial Average fell 0.04%.
  • The Nasdaq 100 fell 0.13% on the back of NetEase Inc's loss of 3.49%.
  • The S&P 500 fell 0.16% as Nvidia Corp fell 1.41%. 

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