US indexes tumble as visa restrictions fuel US-China trade worries

📆 10/9/2019 12:56 AM
📰 The Straits Times

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NEW YORK (REUTERS) - US stocks ended down sharply and near the day's lows on Tuesday (Oct 8) as news that the United States has imposed visa restrictions on Chinese officials overshadowed comments by Federal Reserve Chairman Jerome Powell suggesting openness to further interest rate cuts.. Read more at straitstimes.com.

NEW YORK - US stocks ended down sharply and near the day's lows on Tuesday as news that the United States has imposed visa restrictions on Chinese officials overshadowed comments by Federal Reserve Chairman Jerome Powell suggesting openness to further interest rate cuts.

Earlier, the US government widened its trade blacklist to include some of China's top artificial intelligence start-ups. A Bloomberg report said that Washington was moving ahead with efforts to limit capital flows to China, while a South China Morning Post report said China had toned down expectations ahead of the talks in Washington.

"The overall tone from the Fed is showing a little more concern," said Willie Delwiche, investment strategist at Baird in Milwaukee.

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