NEW YORK, Sept. 4 (Xinhua) -- U.S. stocks traded on a downbeat note on Tuesday as investors grew concerned over the increasing trade tensions between Washington and its key trading partners.
At midday, the Dow Jones Industrial Average dropped 126.85 points, or 0.49 percent, to 25,837.97. The S&P 500 was down 15.44 points, or 0.53 percent, to 2,886.08. The Nasdaq Composite Index decreased 60.81 points, or 0.75 percent, to 8,048.73.
The Dow declined with Nike and Verizon among the worst performers. Shares of both companies fell more than 2.5 percent around midday. Nine of the 11 primary S&P 500 sectors traded lower, with telecom and materials lagging. Tech sector declined, dragging the tech-heavy Nasdaq.
Shares of Amazon gained about 1 percent at midday trading. The U.S. e-commerce giant has become the second U.S.-company to reach 1 trillion U.S. dollars in market cap on Tuesday after the stock rose nearly 2 percent in morning trading.
Concerns over trade tensions between the United States and its major trading partners lingered, weighing on the market, experts noted.
The United States and Canada failed to meet the Friday deadline imposed by the U.S. government to revamp the NAFTA trade agreement as major differences remained in bilateral talks.
It is unclear whether the United States and Canada will work out their differences in the next few weeks. Enditem
