Stock Indexes Drop, Oil Down 8% on Tariff News

Stock Indexes Drop, Oil Down 8% on Tariff News

Adviser Investments Vice President Chris Hagan has the market analysis for Thursday, August 1. All major U.S. stock indexes declined after one of the most volatile trading days of 2019. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite fell 1.0%, 0.9%, 0.8%, respectively. In addition to discouraging manufacturing and construction spending data, investors also responded to President Trump’s announcement for an additional 10% of tariffs on $300 billion of Chinese imports. Benchmark 10-year Treasury yields fell to a nearly three-year low. Oil prices also fell nearly 8%, marking the largest single-day decline since early 2015. Meanwhile, Pinterest’s stock jumped 14% in after-hours trading after second-quarter revenue shot up by 62%.

Recent Videos

View All Videos

Lowell on CNBC: Stock Market Volatility Will Continue

Lowell on CNBC: Impeachment Process and Market Volatility

Lowell on CNBC: Volatile Markets Call for Actively Managed Portfolios

Lowell on CNBC: Nervous Markets Call for a Balanced, Disciplined Investment Approach

85 Wells Avenue, Suite 109 Newton, MA, 02459 1.800.492.6868

Adviser Investments' logo is a registered trademark of Adviser Investments, LLC.