Despite considerable gains earlier today, all three major indexes closed firmly in the red, extending last week's wipeout with their fourth consecutive losses. The Dow, after a particularly volatile last half an hour of trading, finished the day with a 320-point drop. Though it's cooled off from yesterday's surge above 60, the Cboe Volatility Index (VIX) rose to a fourth-straight win.
News of potential trade talks between the U.S., South Korea, and China initially lifted sentiment, as hopes loomed that a lower levy margin could be reached. However, the White House was firm that tariffs on China of 104% would go into effect at midnight.
OIL CONTINUES SLIDE, HITS 4-YEAR LOWS
Oil is trading at four-year lows as trade stress continues to batter the commodity. May-dated West Texas Intermediate (WTI) crude shed $1.12, or 1.9%, to finish at $59.58 per barrel for the day -- at four-year lows.
Global trade woes sent U.S. Treasury yields higher, and subsequently, pushed gold higher as well. At last glance, June-dated gold is up 0.5%, looking to settle near $2,990.20 an ounce for the day.
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