Mon, 03 Aug 2020

NEW YORK, New York - The looming U.S. tariffs proposed to be implemented on Sunday continued to keep buyers at bay on Wall Street on Tuesday.

"I don't think that the markets are going to be completely comfortable until there is a line drawn in the sand that says no new tariffs on the 15th," Nela Richardson, investment strategist at Edward Jones told the Reuters Thomson news agency Tuesday.

Stocks however continued to hover around record highs despite the minor sell-off.

At the close of trading Tuesday the Dow Jones Industrial Average was down 27.88 points, or 0.10%, at 27,881.72.

The Standard and Poor's 500 fell 3.44 points, or 0.11%, to 3,132.52.

The Nasdaq Composite was off 5.64 points, or 0.07%, at 8,616.18.

The U.S. dollar was mixed on Tuesday. It fell against the euro which zoomed up to 1.1093 by the New York close.

The British pound however was weaker at 1.3122. The Japanese yen fell to 108.79, while the Swiss franc was sharply higher at 0.9843.

The Canadian dollar jumped to 1.3229. The Australian dollar fell to 0.6808. The New Zealand dollar softened to 0.6539.

On overseas equity markets, the FTSE 100 in London dropped 0.28%. The German Dax eased 0.27%. The Paris-based CAC 40 gained 0.18%.

On Asian markets the Nikkei 225 was lighter by 0.09%. China's Shanghai Composite added 0.10%. In Hong Kong, the Hang Seng fell 0.22%, while the Australian All Ords was down 0.36%.

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