An index of global stock markets gave up early gains after Chinese agriculture officials who were to visit USA farm states next week canceled their trip, dampening optimism on U.S.
For months, Wall Street has bounced up and down with signs of improvement or deterioration in trade talks, often based on comments or tweets from Trump, a cycle investors have grown accustomed to.
The Chinese delegates were in the US for trade talks as President Donald Trump stated he wanted a completed trade deal and not just an agreement to buy more USA agricultural goods.
The trade officials reportedly changed their travel schedule and will return to China earlier than expected, according to Montana Farm Bureau Federal Director of National Affairs Nicole Rolf, per CNBC. The Dow Jones Industrial Average was down 0.4% at 26,991, the S&P 500 index declined 0.4% to 2,994, while the Nasdaq Composite Index was 0.9% lower at 8,112.
Advancing issues outnumbered declining ones on the NYSE by a 1.01-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favoured decliners.
Xilinx dropped 6.8 per cent after chief financial officer Lorenzo Flores said he would step down, prompting Bank of America Merrill to downgrade the chipmaker to "neutral".
Investor focus earlier this week was on Federal Reserve action on monetary policy.
Trump hopes rain won't dampen outdoor Australia state dinner
Morrison is on a state visit to the USA , and earlier in the day he received a spirited welcome on the White House South Lawn. Australian pro golfer Greg Norman, a friend and occasional golf partner of Trump's, is among the invited guests.
Kansas governor speaks with local union workers taking part in GM strike
About 49,000 UAW members went on strike at midnight Monday, closing about 55 GM factories and parts warehouses nationwide. On Friday GM also halted production on its flex line that produces the Chevrolet Impala and employs about 650 workers.
Philadelphia Eagles cancel practice session due to injuries
Philadelphia is also down two tackles with Malik Jackson and Tim Jernigan suffering serious foot injuries in back-to-back weeks. Alshon Jeffery and tight end Dallas Goedert both have calf strains and could also miss Sunday's game.
After October 10, the New York Fed will "conduct operations as necessary to help maintain the federal funds rate in the target range, the amounts and timing of which have not yet been determined". However, many were anxious about the future outlook for further easing. Earlier, ongoing concerns about last weekend's attack on Saudi Arabian crude oil facilities provided a safety bid for USA bonds. Though that didn't happen, the Fed injected $200 billion into the repo market to try to keep overnight interest rates, which had spiked to 10%, in check. Concerns about a spike in oil prices harming the economy, however, have eased since Saudi Arabia's energy minister said on Tuesday that the kingdom will restore its lost oil production by the end of September.
The yen tends to attract demand in times of market stress as the currency is backed by Japan's current account surplus, which offers it more resilience than currencies of deficit-running countries.
The S&P 500 healthcare index, which has been the worst performing S&P sector this year, clocked the biggest gain among the 11 major sectors.
In Europe, the London FTSE closed off 0.16%, the German DAX gained 0.08% and the French CAC added 0.22%.
The dollar was 0.43% lower against the Japanese currency.
October WTI crude oil futures slipped 0.1% on the day to $58.09/bbl but jumped 5.9% for the week. Spot gold was up 0.81% at $1,511.21 an ounce.
Bonds yields were lower.