Last Price$3.29NASDAQ Closing Price as of 3:59PM ET 10/15/19
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Close Update: Stocks Slump Wednesday Amid Backdrop of Trade Dispute, Economic Growth Concerns

4:36PM ET 5/29/2019 MT Newswires
Stocks closed lower Wednesday as investors grappled with handicapping the results of the US-China trade dispute, fears over economic growth and the latest drama in Washington.

The Dow Jones Industrial Average fell 0.9%, with the biggest percentage losers Johnson & Johnson (JNJ) and Nike (NKE), which fell 4% and 3% respectively. Johnson & Johnson is on trial in Oklahoma for alleged deceptive practices related to opioid sales. The S&P 500 fell 0.7% while the Nasdaq Composite Index slumped 0.8%.

Major market indexes did manage to close off their session lows, which came in the wake of special counsel Robert Mueller's statement at the Justice Department that if his group "had confidence that the president did not commit a crime, we would have said that." President Donald Trump said in a tweet that "nothing changes from the Mueller Report" and that "the case is closed!" Mueller said that charging the president with a crime was "not an option" because of department rules.

Stocks have been under pressure recently as the US and China trade dispute drags on and on fears over economic growth and corporate earnings. Earlier this week President Donald Trump said that the US was "not ready" to make a deal with China and then said that the two countries will eventually make "a great trade deal."

The yield curve's inversion has also become a topic for investors to consider as the yield on the 3-month bill was 2.36% while the 10-year note's yield was 2.26%. An inverted yield curve is seen by some as a recession indicator.


Dow Jones Industrial Average was down 221.36 points (-0.87%) to 25,126.41

S&P 500 was down 19.37 points (-0.69%) to 2,783.02

Nasdaq Composite Index was down 60.04 points (-0.79%) to 7,547.31


FTSE 100 was down 83.65 points (-1.15%) to 7,185.30

DAX was down 189.24 points (-1.57%) to 11,837.81

CAC 40 was down 90.57 points (-1.7%) to 5,222.12

Nikkei 225 was down 256.77 points (-1.21%) to 21,003.37

Hang Seng Index was down 155.10 (-0.57) to 27,235.71

Shanghai China Composite Index was up 4.79 points (+0.16%) to 2,914.70


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