Stocks whipsawed after Trump spars with Pelosi and Schumer

So much for turnaround Tuesday on Wall Street. Tumultuous Tuesday is more like it.All three of the ma...

Posted: Dec 12, 2018 12:07 AM
Updated: Dec 12, 2018 12:07 AM

So much for turnaround Tuesday on Wall Street. Tumultuous Tuesday is more like it.

All three of the major indexes were whipsawed after a contentious public meeting between President Donald Trump and Democratic congressional leaders Chuck Schumer and Nancy Pelosi.

Asia

Banking, finance and investments

Business, economy and trade

China

Chuck Schumer

Continents and regions

Donald Trump

East Asia

Financial markets and investing

Nancy Pelosi

Political Figures - US

Securities trading

Stock markets

Economic indicators

Economy and economic indicators

Stock indexes

The Dow ended the day with a more than 50-point loss. But it had been down more than 200 points earlier in the day. The S&P 500 was flat while the Nasdaq finished Tuesday with a slight gain after both also briefly fell into negative territory.

Stocks fell from their peaks after Trump told Pelosi and Schumer that there must be funding for a US-Mexico border wall from Congress and warned that he would shut down the government without it.

But investors were heartened earlier in the day by renewed hopes that the United States and China might be able to reach a new deal on trade, despite tensions over the arrest of the CFO of Chinese tech giant Huawei.

Trump tweeted Tuesday morning that there were "very productive conversations going on with China!" and added that people should "watch for some important announcements!"

Still, the market seemed skeptical. Dow components with significant exposure to China, including Apple (AAPL), Boeing (BA), 3M (MMM) and McDonald's (MCD), were all lower.

Alec Young, managing director of global markets research for FTSE Russell, wrote in a report Tuesday that "despite incrementally positive overnight news on US-China trade negotiations, much remains unresolved."

Young noted that "if the trade war continues to escalate," that could lead to significant cuts in forecasts for US economic growth in 2019. He added that earnings projections for Corporate America would need to be cut as well.

"That's why cyclical stocks keep shrugging off what look like positive overnight trade headlines. The uncertainty needs to be removed vs. just reduced a little bit," he said.

Lafayette
Cloudy
29° wxIcon
Hi: 29° Lo: 25°
Feels Like: 20°
Kokomo
Cloudy
28° wxIcon
Hi: 28° Lo: 25°
Feels Like: 17°
Rensselaer
Mostly Cloudy
27° wxIcon
Hi: 27° Lo: 23°
Feels Like: 21°
Lafayette
Cloudy
29° wxIcon
Hi: 28° Lo: 25°
Feels Like: 20°
Danville
Cloudy
28° wxIcon
Hi: 29° Lo: 26°
Feels Like: 28°
Frankfort
Cloudy
25° wxIcon
Hi: 28° Lo: 26°
Feels Like: 13°
Frankfort
Cloudy
25° wxIcon
Hi: 27° Lo: 26°
Feels Like: 13°
Monticello
Cloudy
25° wxIcon
Hi: 27° Lo: 24°
Feels Like: 16°
Monticello
Mostly Cloudy
25° wxIcon
Hi: 28° Lo: 23°
Feels Like: 16°
Logansport
Cloudy
25° wxIcon
Hi: 27° Lo: 25°
Feels Like: 18°
Some snow Wednesday to Wednesday night.....
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 614946

Reported Deaths: 9807
CountyCasesDeaths
Marion849231342
Lake45784693
Allen33103560
Hamilton29752316
St. Joseph27572383
Elkhart24496346
Vanderburgh19679255
Tippecanoe18150144
Johnson15234296
Porter14970172
Hendricks14550253
Madison11071223
Clark10852145
Vigo10819185
Monroe9496115
Delaware9193136
LaPorte9173164
Howard8325148
Kosciusko811485
Warrick683399
Hancock6783106
Bartholomew6659100
Floyd6522113
Wayne6194164
Grant6050118
Dubois559081
Boone557968
Morgan551996
Henry512365
Marshall507884
Dearborn488745
Cass487864
Noble476159
Jackson428747
Shelby423381
Lawrence395180
Clinton375845
Gibson375560
Harrison354046
DeKalb351365
Montgomery349754
Knox337839
Miami325244
Steuben315846
Whitley313126
Wabash306951
Adams303636
Ripley301646
Putnam299152
Huntington295760
Jasper293035
White275943
Daviess271776
Jefferson267738
Decatur249983
Fayette249949
Greene242763
Posey241828
Wells237551
LaGrange230363
Scott227939
Clay225032
Randolph215848
Jennings200937
Spencer193622
Sullivan193633
Washington189023
Fountain185227
Starke177044
Jay168723
Owen168338
Fulton165430
Orange161035
Carroll160616
Rush156418
Perry156129
Vermillion150034
Franklin149933
Tipton134433
Parke13098
Pike118826
Blackford112023
Pulaski97937
Newton92621
Brown88835
Benton87110
Crawford8099
Martin75013
Warren6867
Switzerland6695
Union6297
Ohio4967
Unassigned0375

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events