US stocks dip on weak data from Europe, Japan

New York: Wall Street stocks fell early Thursday following lackluster economic data from Japan and Europe while high-stakes trade talks between the United States and China resumed.

About 20 minutes into trading, the Dow Jones Industrial Average was down 0.5 percent at 25,834.72.

The broad-based S&P 500 also shed 0.5 percent to 2,771.10, while the tech-rich Nasdaq Composite Index declined 0.6 percent to 7,444.84.

Fresh economic data showed that manufacturing in both the eurozone and Japan shrank in February, drops seen as evidence of global economic sluggishness amid the US-China trade fight.

In Washington, top Chinese and US trade officials returned to the bargaining table as the two sides worked to bridge a chasm between the world’s two largest economies.

Analysts say the distance separating Washington and Beijing and the short time remaining before the March 1 deadline for new US tariffs make it likely the outcome will feature banner announcements but fall short of US President Donald Trump’s most far-reaching goals to remake the trading relationship.

Among individual stocks, Dow member Nike fell 1.0 percent after a high-profile sneaker failure involving star college basketball player Zion Williamson.

Playing for Duke University in a game against archrival University of North Carolina, Williamson left the game with an injury less than a minute after the start when his shoe ruptured.

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