U.S.Stocks Dip as Trade Talks Loom
U.S. stocks lost their earlier gains as traders grew cautious ahead of U.S.-China trade talks. On May 9, major indices saw declines. The Dow Jones fell by nearly 200 points, or 0.48%. The S&P 500 dropped 0.24%, and the tech-heavy Nasdaq decreased by 0.19%.
investors are watching trade negotiations closely. President Trump hinted at lowering tariffs on Chinese goods to 80%, a decision he said would be made by Treasury Secretary Scott Bessent. This is lower then the previous 145% tariff. Trump’s statement on truth Social suggests a softer stance before talks.
China had imposed a 125% tariff on U.S. goods in retaliation. If negotiations succeed, these tariffs could be reduced, benefiting both economies.
Among tech stocks,Palantir was a notable loser,down 2.23%. Its shares fell 12% on Tuesday due to disappointing quarterly earnings. Strategy, a Bitcoin investment firm, also declined by 1.78%, despite Bitcoin’s 1.23% rise over 24 hours.
With stocks falling, gold became a safe haven. It gained 1.16%, reaching $3,344 per ounce. Traders are increasing their gold holdings amid market uncertainty.
