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Home / Business / Dow slips to low Friday after China's delegation cancels tariff-related visit to Montana

Dow slips to low Friday after China's delegation cancels tariff-related visit to Montana



U.S. stocks on Friday fell sharply in afternoon trade, slumped after reports that a Chinese trade delegate canceled a planned trip to Montana farms. A representative of the Montana Farm Bureau Federation confirmed that the Chinese delegation intended to visit Montana agricultural lands as part of continuing discussions with the United States on trade, but China changed travel plans and would leave without stopping in Montana. "This morning, we were told that they would no longer visit Montana, but would instead return to China sooner than originally planned," said Nicole Griffin Rolf, director of national affairs at the MFBF. The visit by the Chinese delegation had been seen as reflecting a thaw in a long-standing Sino-American tariff dispute. Dow Jones industrial average

DJIA, -0.26%

was down 0.4% at 26,991, the S&P 500 index

SPX, -0.24%

fell 0.4% to 2,994, while Nasdaq Composite Index

COMP, -0.62%

was 0.9% lower at 8.112. The technology sector

XLK, -0.75%

and consumer discretionary shares

XLY, -0.71%

hit hardest in the fall. All three main indices were trading near low Friday on the reports. The visits and talks between lower-level delegates from Beijing and Washington were expected to be a prelude to higher-level negotiations in early October. – Robert Schroeder contributed to this article


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