Morning Report 21 Nov 18 : Fading trade deal hopes weigh on stocks

US sharemarkets fell on Wednesday on mounting US-China tensions. Reuters reported that the completion of a "phase one" US-China trade deal could be delayed into next year, citing trade experts and people close to the White House. Home Depot (-2.0%), Apple (-1.5%) and Caterpillar (-1.3%) led the Dow Jones index lower. US retailers Target (+13.6%) and Lowe's (+3.9%) were the 'bright spots' after the two companies raised their profit forecasts. An hour before the close of trade, the Dow Jones was down by around 155 points or 0.6%. The S&P500 index was down by around 15 points or 0.5% and the Nasdaq index was lower by around 55 points or 0.7%.

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