The US equity market rally lost some steam following fresh trade tensions between the US and Europe and after the International Monetary Fund (IMF) cut their global growth forecast for the third time in six months - Dow down -190-points or -0.72%, with Boeing Co (down -1.46% to US$369.04)) under fresh pressure. Goldman Sachs became the latest investment bank to cut their target price on Boeing (to US$393 from US$425) American Airlines Group Inc fell 1.7% after the carrier cut its first quarter guidance. The broader S&P500 fell -0.61% to snap an eight session rally, NASDAQ -0.53%, with Apple Inc (down -0.30% at US$199.50) breaking a nine-session winning streak albeit still just ~6.3% shy of the US$1 trillion market capitalisation mark (the stock would need to close at or above US$212.08 per share to recapture the US$1 trillion mark that it first crossed on 1 November last year). Wynn Resorts Ltd fell -3.9% after the company ended talks to acquire Crown Resorts Ltd (CWN.ASX), saying the takeover target had prematurely disclosed their talks. The IMF downgraded its global growth forecast for this year from 3.5% to 3.3% and warned growth could slow further if trade tensions persist and if Britain makes a disorderly exit from the European Union (EU).
