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20 Jul 2018

• The Dow Jones Industrial Average .DJI fell 134.79 points, or 0.53 percent, to 25,064.5, the S&P 500 .SPX lost 11.13 points, or 0.40 percent, to 2,804.49 and the Nasdaq Composite .IXIC dropped 29.15 points, or 0.37 percent, to 7,825.30.

U.S. stocks dropped on Thursday after earnings disappointed and trade jitters escalated over worries that the European Union could slap retaliatory tariffs on goods imported from the United States.

• Officials from the EU Trade Commission, due in Washington next week for trade talks, are said to be preparing a list of tit-for-tat actions in response to proposed U.S. tariffs on EU cars.

• On Wednesday, the Federal Reserve’s Beige Book report showed manufacturers in all 12 districts of the U.S. central bank are worried about the impact of the trade dispute.

• Asian shares were muted on the last trading day of the week as investors searched for direction after stocks stateside slipped amid U.S. President Donald Trump's criticism of the Federal Reserve, while the dollar eased from a one-year high.

Japan's Nikkei 225 recorded marginal declines in morning trade, slipping 0.08 percent as the financials and capital goods sectors fell while utilities held onto gains. The broader Topix hovered around the flat line, last trading higher by 0.03 percent.

South Korean stocks were also little changed in early trade, with the Kospi edging higher by 0.06 percent.

Reference: Reuters, CNBC

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