US equity markets were relatively flat most of the day Thursday, before turning downward after media reports that President Donald Trump intended to roll out $200bn in China tariffs as soon as next week.
Washington and Beijing have been locked in a trade war for weeks, but Mr Trump told his aides he wanted to move ahead with plans to place tariffs on $200bn of Chinese imports, Bloomberg reported. As of last week, the US had already imposed $50bn in tariffs on Chinese imports.
The news weighed on stocks, with the S&P 500 now on track to end a four-day winning streak that had seen it close at a record highs in each of those sessions.
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