Escalating trade tensions drove a broad-based decine on US equity markets - Dow down -219-points or -0.88% to snap a four session winning streak, with Caterpillar (down -3.2%), DowDuPont (-2.23%) and Chevron (-3.2%) the biggest underperformers. The broader S&P500 -0.71%, with the energy, materials and industrial sectors all falling more than >1%. NASDAQ -0.55%. The White House late Tuesday (11 July) said it would assess 10% tariffs on a further US$200B in Chinese goods. China’s Ministry of Commerce said in a statement that the new levies are “totally unacceptable” and that the behavior is hurting not just China but the whole world.
