US stocks decline amid trade uncertainty

After Monday’s rout following China’s announcement of new trade measures, stocks have risen the last three days as Washington has sent more conciliatory messages on trade. (Reuters pic)

NEW YORK: Wall Street stocks declined early Friday, threatening to end a three-session winning streak amid uncertainty over US-China trade talks.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.4% at 25,762.96.

The broad-based S&P 500 shed 0.4% to 2,864.09, while the tech-rich Nasdaq Composite Index also dipped 0.4% to 7,863.76.

After Monday’s rout following China’s announcement of new trade measures, stocks have risen the last three days as Washington has sent more conciliatory messages on trade.

On Friday, President Donald Trump announced he will delay by six months a decision on imposing steep tariffs on imported autos, confirming plans reported earlier by AFP and others.

But analysts pointed to downcast reports in the Chinese press on the prospects for an agreement between Beijing and Washington.

Among individual companies, Deere & Company fell 4.2% after lowering its financial forecast for the year, citing “softening conditions” in the agricultural sector.

Pinterest dropped 12.1% on disappointment over its full-year sales forecast, which lagged some analyst forecasts.