Stocks Shrink on Trade Doubt

Stocks fell on Thursday after President Donald Trump indicated trade talks between the U.S. and China may not be fruitful.

The Dow Jones Industrials dumped 54.95 points to 24,713.98, with Cisco Systems fell 3.8%, and WalMart dropped 1.9%.

The S&P 500 subtracted 2.33 points to 2,720.13, as tech declined 0.5%.

The NASDAQ gave back 15.82 points to 7,382.47, with Amazon, Netflix, Apple and Alphabet all falling.

Wall Street also looked to Washington as the U.S. and China kicked off the second round of trade talks. U.S. and Chinese officials have indicated that the gap between the two countries is significant, however.

Tensions between the U.S. and China have increased in recent months as both countries have hit each other with tariffs targeting some of their exports. The U.S. also banned companies from exporting goods to Chinese tech companies ZTE. Those tensions have sparked worries that the two largest world economies could engage each other in a trade war.

Prices for the benchmark for the 10-year U.S. Treasury were lower, raising yields to 3.12% from Wednesday’s 3.1%. Treasury prices and yields tend to move in opposite directions.

Oil prices gained nine cents a barrel to $71.58 U.S.

Gold prices dipped $1.10 at $1,290.40 U.S. an ounce.