The re-escalation of trade tensions between the US and China weighed heavily on US equity markets, with all three benchmarks falling over >1% - Dow tumbled -473-points or -1.79% (to 25,965.09), having been down -649-points at its worst levels of the session. It was the Dow's biggest single session drop since 3 January, with all 30 index constituents closing in the red as the index lost its grip on the 26,000 level. Boeing Co fell -3.87% (and broke below its 200-day moving average for the first time since January). The broader S&P500 fell -1.65% to log its worst single session decline since 22 March, with Information Technology (down -2.12%), Industrials (-2.04%) and Health Care (-1.95%) leading all eleven primary sectors into the red. The technology-centric NASDAQ dropped -1.95%. China’s commerce ministry confirmed on Tuesday that Vice Premier Liu He will visit the United States over May 9-10 for bilateral trade talks at the invitation of senior US officials.
