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US stocks tumble on US-China trade jitters, oil price slide

SeattlePI.com Thursday, 6 December 2018
U.S. stocks tumbled in early trading Thursday following a sell-off in overseas markets, knocking more than 450 points off the Dow Jones Industrials Average. The broad market decline came as the arrest of a senior Chinese technology executive overshadowed some positive comments on trade from Beijing, threatening to worsen trade tensions between the U.S. and China. Oil prices fell sharply as traders appeared to doubt that an expected production cut by OPEC will be enough to boost the price of crude. Traders continued to shovel money into bonds, a signal that they see weakness in the economy ahead. The yield on the 10-year Treasury note fell to 2.86 percent from 2.92 percent on Tuesday, a large move. U.S.
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News video: OPEC's Problems

▶ OPEC's Problems 00:35

According to Reuters, Iranian Oil Minister Bijan Zanganeh said on Tuesday that OPEC has problems with some oil producers, and the reasons for Qatar’s exit from the organization must be examined. Qatar said on Monday it will quit OPEC to focus on gas in a swipe at Saudi Arabia, the de facto leader...

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