Stocks Wipe Out Fed-Fueled Gains as Trade Fears Linger

A fresh bout of instability gripped the stock market as concern around the potential impacts of a trade war outweighed the latest housing and jobs data showing the world’s largest economy is still holding up.

Equities erased earlier gains. Not only does sentiment remain fragile just a week after the S&P 500 slipped into a correction, the market is set for a big test on Friday. That’s when an estimated $4.5 trillion of options contracts expire in an event ominously known as triple witching that often stokes volatility. In late hours, FedEx Corp. — an economic barometer — sank after cutting its profit outlook. Micron Technology Inc. gave an upbeat sales forecast. Nike Inc.’s results surpassed analysts’ expectations.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.
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Видео Stocks Wipe Out Fed-Fueled Gains as Trade Fears Linger канала Bloomberg Podcasts
Alix Steel, Carol Massar, Romaine Bostick, Scarlet Fu, Tim Stenovec