Wall Street ended low once again on Thursday, a day after hitting two-month highs, after Trump fresh wave of comments on trade with China. This raised doubts about the trade deal reached early this year between the world’s two largest economies. President Donald Trump said the United States would respond emphatically if China forces public security laws for Hong Kong in light of a year ago’s frequently fiercely favorable to popular government fights.
Earlier, Mike Pompeo, Secretary of State Criticized China’s handling of the Pandemic, while a Chinese official said the country will not flinch from any escalation in tensions.
“It appears as though China will be utilized as a punching sack for the forthcoming races,” said Bob Shea, CEO, and co-boss venture official at TrimTabs Asset Management in New York.
The S&P 500 has surged over 30% from it’s March low, but it remains down about 13% from it’s Feb 19 record high. Nearly 50% of S&P 500 stocks are down 20% or more since Feb 19, understanding how uneven recovery has been.
Amazon finished lower on Thursday after touching a record intraday high earlier in the day.