Markets end flat amid trade tariff confusion
S&P 500 and Dow end their winning run after US stock markets respond to Trump’s missed signals over on tariff rollbacks with China
Text: Mixed messages from President Trump sent US markets lower as the US President said he had not yet negotiated an agreement with China over trade tariffs. In later trade, the Dow Jones and S&P 500 recovered some ground but remained flat in comparison to their performance earlier in the week.
The FTSE 100 finished on 7,359.38 , 0.47 per cent down on the day. Pan European Euro Stoxx 600 drifted down by 0.41 percent to 404.91.
There was little change in the FTSE 250, ending the day on 20,357.63 points down or 0.37 per cent down, although the index was up overall on the week.
While markets failed to continue their upward momentum, safe haven assets did less well. US Treasury yields were trending down, with the TLT iShares 20 year index currently down 4 per cent on the week at $135.
The price of gold came under further pressure as investors weigh up the chances of US-China negotiations over trade tariffs being resolved soon. It fell to $1,458 in morning trade, a decrease of just over 0.7 per cent, rising later to around $1,465.
In the US, major markets dipped after Trump’s China comments, before recovering a little to remain flat. The S&P 500 is currently trading flat with little change at 3,084, down 0.01 per cent. The Dow Jones fell to 27,610, a reduction of 0.23 per cent, or 64 points.
Bitcoin hovered around the $8715 mark, down 5.3 per cent.
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