Wall Street's main indexes ended Wednesday's session lower on concerns...
- Wall Street’s main indexes ended Wednesday’s session lower on concerns that a “phase one” trade deal between Washington and Beijing may not be completed this year, while minutes from the Federal Reserve’s October policy meeting appeared to offer little help.
The Fed minutes offered little guidance on what would cause policymakers to change their outlook after they decided at the October meeting on the third interest rate cut of 2019 and signaled they were done with the easing. Then equities deepened losses, hitting a session low in the early afternoon after a Reuters report citing experts and people close to the White House as saying completion of a U.S.-China trade deal could slide beyond 2019.
While the indexes ended above their session lows, Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina, said the market was more than due for a dip because until Wednesday, the S&P had not registered two consecutive declines in 30 trading days. This was its longest stretch without back-to-back declines since 2005, he said.
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