Cancelled korea summit and auto tariff threats send stocks on bumpy ride – cbs news t gastrobar el tenedor

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Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, said investors were troubled at first by Mr. Trump and Mr. Kim’s statements about a possible nuclear war, but they’ve gotten used to it, which means the market doesn’t react as much to their statements.

The S&P 500 index dropped 5.53 points, or 0.2 percent, to 2,727.76. The Dow Jones industrial average lost 75.05 points, or 0.3 percent, to 24,811.76. The Nasdaq composite dipped 1.53 points, less than 0.1 percent, to 7,424.43. The Russell 2000 index of smaller-company stocks edged up 0.61 points to 1,628.22.

Various news outlets reported that the nations of the OPEC cartel might start producing more oil in response to reduced exports from Venezuela and Iran. Greater supplies would send prices lower. Energy companies have slipped in recent days as investors anticipated that possibility. On Thursday Exxon Mobil lost 2.3 percent to $80.27 and Chevron dipped 1.6 percent to $126.61.

OPEC and a group of other major oil producers cut production last year in response to a steep drop in oil prices. U.S. crude had fallen from more than $100 a barrel in mid-2014 to as little as $26 a barrel in early 2016. On Monday U.S. crude peaked at $72.24 a barrel, its highest price since late 2014.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.97 percent from 2.99 percent, and banks traded lower. Metals prices also increased as the dollar weakened. Gold gained 1.1 percent to $1,304.40 an ounce and silver jumped 1.7 percent to $16.69 an ounce. Copper picked up 0.8 percent to $3.10 a pound.

The Trump administration plans to conduct an investigation into imported vehicles and automotive parts on national security grounds. A European Union official said the proposal would violate World Trade Organization rules and Japan and China also criticized the proposal. Those same grounds are the justification for proposed tariffs on imported aluminum and steel, and the U.S. will decide by June 1 whether to impose tariffs on steel and aluminum from Europe.

Germany’s DAX lost 0.9 percent and the FTSE 100 in Britain fell 0.9 percent as well. The CAC 40 in France shed 0.3 percent. Japan’s Nikkei 225 index fell 1.1 percent and the Kospi in South Korea slipped 0.2 percent. In Hong Kong, the Hang Seng gained 0.3 percent.

Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, said investors were troubled at first by Mr. Trump and Mr. Kim’s statements about a possible nuclear war, but they’ve gotten used to it, which means the market doesn’t react as much to their statements.

The S&P 500 index dropped 5.53 points, or 0.2 percent, to 2,727.76. The Dow Jones industrial average lost 75.05 points, or 0.3 percent, to 24,811.76. The Nasdaq composite dipped 1.53 points, less than 0.1 percent, to 7,424.43. The Russell 2000 index of smaller-company stocks edged up 0.61 points to 1,628.22.

Various news outlets reported that the nations of the OPEC cartel might start producing more oil in response to reduced exports from Venezuela and Iran. Greater supplies would send prices lower. Energy companies have slipped in recent days as investors anticipated that possibility. On Thursday Exxon Mobil lost 2.3 percent to $80.27 and Chevron dipped 1.6 percent to $126.61.

OPEC and a group of other major oil producers cut production last year in response to a steep drop in oil prices. U.S. crude had fallen from more than $100 a barrel in mid-2014 to as little as $26 a barrel in early 2016. On Monday U.S. crude peaked at $72.24 a barrel, its highest price since late 2014.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.97 percent from 2.99 percent, and banks traded lower. Metals prices also increased as the dollar weakened. Gold gained 1.1 percent to $1,304.40 an ounce and silver jumped 1.7 percent to $16.69 an ounce. Copper picked up 0.8 percent to $3.10 a pound.

The Trump administration plans to conduct an investigation into imported vehicles and automotive parts on national security grounds. A European Union official said the proposal would violate World Trade Organization rules and Japan and China also criticized the proposal. Those same grounds are the justification for proposed tariffs on imported aluminum and steel, and the U.S. will decide by June 1 whether to impose tariffs on steel and aluminum from Europe.

Germany’s DAX lost 0.9 percent and the FTSE 100 in Britain fell 0.9 percent as well. The CAC 40 in France shed 0.3 percent. Japan’s Nikkei 225 index fell 1.1 percent and the Kospi in South Korea slipped 0.2 percent. In Hong Kong, the Hang Seng gained 0.3 percent.