Dow losing streak on track to be extended after worst session in months
U.S. stock benchmarks on Wednesday were poised to slide for a third straight session, albeit with futures declining with less gusto than Tuesday, as worries about a U.S.-China trade agreement this week dogged marks, resulting in the worst day for the Dow in about four months.
Reuters on Wednesday reported that China’s diplomatic contingent attempted to revamp a nearly 150-page draft trade agreement last Friday, raising the ire of U.S. negotiators and perhaps prompting a Sunday tweet from President Donald Trump, threatening higher import duties But Kinahan said it’s important to put into perspective that major equity benchmarks remain not far from records. Higher volatility is the most likely a byproduct of the current U.S.-China trade narrative, but may not be the only geopolitical headline with potential to unsettle.
Nautilus Inc. NLS, -19.51% stock plunged more than 19% in premarket action Wednesday, after the exercise equipment maker reported a first-quarter loss of 29 cents per share, versus analysts expectations of just 3 cents per share, according to FactSet.
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