Crude Drops as Trump Tariffs on China Spark Trade War Concerns
- Dispute with Asia’s powerhouse economy weighing on market
- The S&P 500 Index tumbles as much as 1.9 percent Thursday
This article is for subscribers only.
Crude took a turn lower amid an equity selloff largely pinned to growing apprehension about a potential trade war with China.
Futures edged down 1.3 percent in New York on Thursday after topping $65 a barrel this week for the first time since early February. U.S. stocks fell and Treasuries jumped as President Donald Trump formally ordered tariffs on $50 billion in Chinese goods, stoking fears of retaliatory measures by the Asian giant.