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Stocks slipped on Thursday as investors digested the latest reports surrounding the U.S.-China trade war.
The Dow Jones Industrials fell 80.61 points to 27,740.48. Travelers and Procter & Gamble were the biggest losers in the Dow as both fell more than 1%.
The S&P 500 doffed 8.13 points to 3,100.33.
The NASDAQ lost 29.92 points to 8,496.81. Amazon co-led the decline, dropping 0.4%, while and Alphabet dipped 0.6%.
In corporate news, media reports have Charles Schwab in talks to buy TD Ameritrade. The news sent TD Ameritrade shares flying by more than 20% while Schwab’s stock rose more than 10%. A deal between the two would create a company with $5 trillion in combined assets.
During a phone call thought to have been made late last week, Chinese Vice Premier Liu He invited U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to Beijing to sit down for further negotiations, according to a report from The Wall Street Journal.
Prices for the 10-Year U.S. Treasury retreated, raising yields to 1.77% from Wednesday’s 1.74%. Treasury prices and yields move in opposite directions.
Oil prices gained 93 cents to $57.94 U.S. a barrel.
Gold prices dropped $6.10 to $1,468.10 U.S. an ounce.
