The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)
FYI: U.S. stocks fell Thursday in a volatile session as the fate of a trade deal between Washington and Beijing hung in the balance.
The Dow Jones Industrial Average was recently down 138 points, or .54%, at 25828, after President Trump said at the White House it was still possible for the U.S. and China to come together on a trade deal this week. Stocks had slid more than 400 points earlier in the session amid reports that the U.S. and China were still far away from an agreement heading into negotiations. Meanwhile, the S&P 500 edged down 0.30% and the Nasdaq fell 0.41%.
U.S. stocks remain up by double-digit percentages this year. But many observers say much of the gains have been driven by assumptions that the White House and Beijing would ultimately carve out a trade agreement.
Shares of semiconductor companies and manufacturers slid Thursday, dragging major indexes lower. The group has been sensitive to trade developments since its profits rely heavily on global growth, as well as demand from China.
Heavy-machinery maker Caterpillar fell 0.7%, while chip maker Nvidia lost 1.8%.
Materials shares lost ground too, hit by sliding commodities prices. Commodities such as oil and copper tend to lose ground when investors are skittish about the prospect for global growth.
Copper producer Freeport-McMoRan lost 0.4%.
Meanwhile, a measure of expectations for stock swings surged to levels last seen in January before paring gains. The Cboe Volatility Index, or VIX, fell 1.2% after jumping more than 14% earlier in the session. The VIX typically rises when investors expect stock prices to fall further.
Thursday’s selling rippled across global markets, sending the Stoxx Europe 600 down 1.7% and indexes in China and Japan lower, too.
Investors sought the safety of government bonds, sending the yield on the benchmark 10-year U.S. Treasury note to 2.458%, compared with 2.484% Wednesday. Yields fall as bond prices rise.
A closely watched corner of the bond market also briefly flashed warning signs about the growth outlook.
The so-called yield curve, the spread between yields on three-month and 10-year Treasurys, inverted Thursday for the first time since March. Traders watch the curve because yields on shorter-term Treasurys have typically exceeded those of longer-term ones before recessions.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-05-09/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-fall-after-trump-claims-china-broke-the-deal-2019-05-09/printWSJ:
https://www.wsj.com/articles/global-stocks-fall-as-china-holds-firm-in-trade-talks-11557390260Bloomberg:
https://www.bloomberg.com/news/articles/2019-05-08/asian-stocks-face-mixed-start-amid-trade-concern-markets-wrap?srnd=premiumIBD:
https://www.investors.com/news/economy/china-trade-war-infinity-war-without-endgame-dow-jones/CNBC:
https://www.cnbc.com/2019/05/09/stock-market-us-china-trade-tensions-continue.htmlReuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-drops-as-investors-await-outcome-of-critical-trade-talks-idUSKCN1SF1BHU.K:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-falters-outcome-of-u-s-china-talks-awaited-idUKKCN1SF0O7Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-sink-on-fears-of-renewed-u-s-china-trade-war-idUSKCN1SF0NFAsia:
https://www.marketwatch.com/story/asian-stocks-fall-on-trade-fears-as-trump-says-china-broke-the-deal-2019-05-08/printBonds:
https://www.cnbc.com/2019/05/09/us-bonds-investors-monitor-us-china-trade.htmlCurrencies:
https://www.cnbc.com/2019/05/09/forex-market-us-china-trade-talks-tariff-threats-in-focus.htmlOil:
https://www.cnbc.com/2019/05/09/oil-market-us-china-trade-war-us-crude-stockpiles-in-focus.htmlGold
https://www.cnbc.com/2019/05/09/gold-market-us-china-trade-war-iran-sanctions-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx 
