How major USA stock indexes fared Thursday

Dow extends deep losses triggered by uncertainty on U.S.-China trade deal

American flags fly outside of the New York Stock Exchange on Monday Oct. 8 2018

Traders have been anxious about worsening trade relations between the USA and China, the world's two biggest economies.

While China's pledge on Wednesday to move quickly on trade commitments to the US had helped ease selling pressure in equities yesterday, news that Canada has arrested the chief financial officer of Chinese tech giant Huawei and may extradite her to the USA could put a damper on sentiment.

After being down 2.8 percent earlier in the day, the Dow had recovered close to the end of the day to a loss of just under 0.5 percent.

The S&P 500 lost 62 points, or 2.3 percent, to 2,633.

On Friday the S&P 500 and Dow Jones both fell by around 2.3 per cent while the Nasdaq was down more than 3 per cent.

Major indexes are sinking again as traders continue to unload stocks, extending dismal streak for the stock market.

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Few details have been made public about what the two sides will negotiate, a lack of clarity that has unsettled stock markets . China had been the largest purchaser of US soybeans, buying $12.25 billion worth of that product in 2017.

Losses in technology and health care stocks outweighed gains elsewhere in the market.

The current bull market for stocks, which began in March 2009, has shown signs of sputtering this year, with the S&P 500 entering into a correction, or drop of 10 percent from a recent high, twice this year.

It reignited fears that trade tensions between the U.S. and China could continue despite a 90 day truce being made between presidents Donald Trump and Xi Jinping in Argentina last week. The VIX Volatility Index was higher at 23.30 for a gain of 2.11 points or 9.96%. PPL Corp. gained 2.8 percent to $31.09.

Canada's main stock index erased early gains and also dropped on Friday despite a rally in oil prices and a robust domestic jobs data, which eased worries over a recent economic slowdown.

A sell-off in technology stocks weighed on the market. Oil rose after OPEC agreed to cut output. Anadarko Petroleum rose 3.4 percent.

The tech sector of the S&P 500 was down by 3.1 percent, while the shares of healthcare companies, which is considered as the biggest gainer among the major the sectors of the S&P this year, fell by 2.5 percent.

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Declining issues outnumbered advancing ones on the NYSE by a 1.75-to-1 ratio; on Nasdaq, a 1.61-to-1 ratio favoured decliners.

The fall was a reversal from earlier in the day, when stocks were higher on U.S. labour data that showed employers hired fewer workers than expected in November. Brent crude, used to price worldwide oils, gained 2.7 percent to $61.67 a barrel in London. Silver climbed 1.3 per cent to $14.70 an ounce. Retailers and other consumer-focused companies, banks and industrial stocks also took heavy losses. JPMorgan Chase rose 1 percent.

Tobacco company Altria Group, which makes Marlboro cigarettes, announced a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company. The stock fell 0.2 per cent to $54.28.

Bank shares in the S&P 500 fell about 2.5 percent, as Treasury yields slid to the lowest since August.

The Nasdaq finished up 29 points, an increase of 0.42 percent.

The drop continued Thursday - the US market was closed on Wednesday - as bond yields and oil prices both slid.

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