United States markets sink on worries over slowing growth, trade truce outcome

At 1:16 pm ET the Dow Jones was down 565.16 points at 25,261.27 the S&P 500 was down 62.55 points at 2,727.82 and the Nasdaq was down 196.65 points at 7,244.86

A flattening yield curve was a factor in the day's losses, while investors also digested more details on the USA and China's agreement with some skepticism.

On Tuesday, the Dow Jones Industrial Average fell by nearly 800 points and shares of tech giants fared even worse. The S&P 500 decreased 90.31 points, or 3.24 per cent, to 2,700.06, Xinhua reported.

The Nasdaq composite lost 226 points, or 3 per cent, to 7,217.

On the other hand, China's Commerce Ministry said on Wednesday that the G-20 talks were "very successful" and that it was "confident" a deal could be reached within the next 90 days.

The jitters helped drive demand for government bonds today, pushing prices higher. The Russell 2000 index gave up 68.21 points, or 4.4 percent, to 1,480.75.

The New York Stock Exchange and Nasdaq will be closed on Wednesday, for a day of mourning for former President George H.W. Bush, who died on Friday at the age of 94.

Apple lost 3.7 percent to $177.99 after the consumer electronics giant was downgraded by HSBC analysts, citing the possibility that iPhone volume and value growth may moderate due to a saturated mobile phone market. The contract for the Dow lost 1.6 percent and that for the S&P 500 declined 1.5 percent.

But late on Monday, the reverse happened: Five-year notes paid less than three-year notes, an indication that bond investors aren't too sure what the next few months will bring.

Google confirms Allo dies in March 2019, wants people to get Messages
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Amid fears of slowing United States growth, Dollar General Corp sank 8% after warning that the proposed tariffs on Chinese imports could begin to have a greater impact on its business as well as its customers.

OPEC'S MOVE: OPEC countries gathered Thursday to find a way to support the falling price of oil, with analysts predicting the cartel and some key allies, like Russian Federation, would agree to cut production by at least 1 million barrels per day. Benchmark U.S. crude gained 0.6 percent to settle at $53.25 per barrel in NY. Brent crude, used to price global oils, dropped $1.48 to $60.08 per barrel. Toll's shares rose 0.4 percent to $33.67, recovering from a morning sell-off.

CURRENCY: The dollar slipped to 112.80 yen from 113.20 yen. The euro was little changed at $1.1342. The British pound fell to $1.2716 from $1.2728.

Markets in Europe also fell.

Overseas, Germany's DAX lost 1.1 percent, while France's CAC 40 dropped 0.8 percent.

Gold gained 0.6 percent to $1,246.60 an ounce.

Major indexes in Asia finished mixed. Japan's Nikkei 225 index gave up 2.4 percent and the Kospi in South Korea lost 0.8 percent. Heating oil climbed 0.7 percent to $1.90 a gallon.

European markets closed lower yesterday: London's FTSE fell 0.6per cent, Paris dropped 0.8 per cent and Frankfurt shed 1.1 per cent.

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