Stocks and currency fall after US-China trade talk stalled (Economy news)
Source: AFP/CNBC Stocks closed on a bearish note on Friday after CNBC reported the trade talk between the US and China had been stalled. The report sent the US stock exchange market into a frenzy as traders sees red everywhere.Wall Street saw the fourth straight weekly drop for the Dow Jones Industrial Average as they went down 98.68 points to 25,764 while the Nasdaq Composite was down 1% to 7,816.28. Dow erased their 30 points gain earlier in the day, while Nasdaq and the S&P 500 were knocked down further. Big US corporations such as Apple also saw their shares fell 0.6%, bringing their weekly share to 4.1%. The Americans aren't the only one seeing red as the Chinese currency Yuan had also suffered the same fate. The Yuan had been fairly stable in 2019 while the trade talk had been ongoing. But since President Donald Trump tweeted about a new tariff earlier this month and the next round of trade talk had not been scheduled, the Yuan had dropped 2.7% against the U...
