Wall Street declines due to Trump comments, worries about the economy

US, WASHINGTON (ORDO NEWS) — Wall Street’s major indices fell on Thursday after US President Donald Trump’s comments again raised concerns about China-US trade relations.

Trump said he was very disappointed with China after the outbreak of coronavirus, which began shortly after the two countries agreed on the first phase of the deal.

Trading tensions increase pressure on stocks, said Paul Nolty of Kingsview Asset Management in Chicago.

“It certainly harms markets when we try to recover from the economic damage from the virus,” he said.

The number of applications for unemployment benefits in the US over the past week fell to 2.98 million, while analysts, based on preliminary data, predicted a decrease to 2.50 million.

By 17:55 GMT, the Dow Jones index fell by 0.31% to 23.176.52 points, the S&P 500 index – by 0.54% to 2.804.89 points, and the Nasdaq – by 0.86% to 8.788.08 points.

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