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Stocks slump as Trump says trade deal with China can wait
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Bangladesh, Dec. 4 -- Stocks fell broadly Tuesday after President Donald Trump cast doubt over the potential for a trade deal with China this year and threatened to impose tariffs on French goods.
The selling knocked the Dow Jones Industrial Average more than 350 points lower had the S&P 500 on track for its third straight loss as the market continued to give up gains after a strong November rally.
Trump said he has "no deadline" for a deal and didn't mind waiting until after the 2020 election to make one. Investors had been hoping for a deal this year, or at least enough progress to stave off new U.S. tariffs on Chinese goods, including smartphones and laptops, scheduled to start Dec. 15.
Wall Street is also weighing the potential for...
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