Investing.com - The Dow fell for the second-straight day Thursday as reports President Donald Trump is unlikely to meet with President Xi Jinping before the March trade deadline weighed on sentiment.
Hopes of a U.S.-China trade deal were thrown into doubt as CNBC reported that a meeting between Trump and Xi is "highly unlikely" to take place before March 1, after which, in the absence of a deal, the U.S. could impose another round of tariffs and raise duties on imports to 25% from 10%.
Without a deal, many fear the tit-for-tat tariff exchange between the two nations could resume, pressuring global economic growth, potentially undoing the strong stock gains seen so far this year.
The U.S. has slapped tariffs on $250 billion worth of Chinese goods, about half the value of U.S. imports from the country. China has retaliated with tariffs on $110 billion worth of American exports.
Beyond trade, falling energy stocks deepened losses in the broader market as U.S. oil prices fell 2% on fears that a prolonged U.S.-China trade war could hurt global oil demand growth, pressuring prices.
Tech stocks, meanwhile, were led sharply lower by a plunge in Twitter.
Elsewhere in tech, Apple's (NASDAQ:AAPL) health team reportedly hired an obstetrician, Dr. Christine Curry, in a bid to boost its profile in Women's Health, CNBC reported.
Apple CEO Tim Cook, earlier this year, identified health care as a growing priority for the tech giant at a time when demand for its iPhones, which make up more than half of total sales, is feared to have peaked.
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