The US markets ended mostly lower on Wednesday, as investors grappled with a fresh round of tariff clashes between the Trump administration and China. The US completed a list of $16 billion in Chinese imports that will be subject to 25% tariffs. That brings duties on Chinese imports, which are set to take effect August 23, to $50 billion. And US officials have said they are considering duties on $200 billion more. Beijing officials have said they would respond by imposing retaliatory tariffs on up to $110 billion of US goods. Besides, traders seemed reluctant to make any significant moves amid another quiet day on the US economic front.
However, equities have remained mostly buoyant over recent sessions, supported by strong corporate quarterly results and economic data that underlined a healthy economy in its ninth year of expansion. Thus far, with more than 80% of corporations reporting quarterly results, S&P 500 components have produced earnings growth of 24% and sales gains of 9.8%. Those earnings have helped to bolster the belief that a steady US economic expansion will continue, despite heightened tariff skirmishes with China.
Dow Jones Industrial Average declined 45.16 points or 0.18 percent to 25583.75 and the S&P 500 lost 0.75 points or 0.03 percent to 2857.70, while Nasdaq was up by 4.66 points or 0.06 percent to 7888.33.
