On Friday, the S&P 500 index experienced a decline after Wall Street grew anxious about the trade talks going off to the negative side. As a result, major indexes underwent a short pullback and suffered a small weekly loss after three weeks of gains. The index ended trading off 0.5% and below 3,000, a level that could be coming into view as a turning point that signals a positive market.

The lowering of the market was driven primarily by the restlessness in the trade negotiations between the United States and China. This followed reports that the agricultural delegation from China made a decision to not visit farms located in Nebraska and Montana. It was reported that the delegation chose to return home instead. The cancellation of the visit flagged negative progress in the trade talks between the two largest economies. On the same day, U.S. President Donald Trump mentioned that it would require more than acquisitions from American agriculture in order for the trade conflicts to come to a resolution. There is still no official clarification regarding the delegation’s departure.

During the day, stocks from Netflix suffered a significant decline and dropped 5.7% during  midday. This was after a reports about the company boosting expenditures in the UK to beat its competition. The company’s stocks has slumped 9.5% during the former three sessions and is progressing toward its worst close after last January 2.

By: Cyril Latrice Cajanding