U.S. stock benchmarks on Monday finished off their worst levels but firmly in negative territory, as early optimism around a possible U.S.-China trade agreement being forged soon faded. The Dow Jones Industrial Average
fell 207 points, or 0.8%, to 25,820, the blue-chip gauge had lost as many as 415 points or 1.6% at the lows. Meanwhile, the S&P 500 index
finished down 0.4% at 2,793, giving up its perch at the psychologically significant level at 2,800. The Nasdaq Composite Index
retreated 0.2% at 7,577, on a preliminary basis. All three benchmarks had opened solidly higher after the Wall Street Journal reported Sunday that Beijing and Washington were in the final stages of completing a trade deal after yearlong disagreement. At Monday’s peak, the Dow gained as many as 130 points, the S&P was up 13 points, and the Nasdaq had climbed 48 points. In corporate news, shares of AT&T
were in focus after the telecommunications giant announced plans to consolidate its affiliates.
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