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US stock exchanges decline on geopolitical risks and fears for the country's economy


July, 24 2020
watermark Economic news

According to the trading data, the main US stock indexes are declining on Friday, as investors assess the risks of the conflict between the US and China and doubt the prospects for the recovery of the US economy.


The Dow Jones Industrial Average (DJIA) fell by 0.57%, to 26501.72 points, the broad market S&P 500 index – by 0.62%, to 3215.7 points, the NASDAQ high-tech index – by 1.47%, up to 10307.8 points.


The pessimism in the markets was fueled by growing tensions between the world's two largest economies. Today, China has demanded that the US Consulate General in Chengdu, Sichuan Province cease operations. This demand was made in response to the closure of the Chinese Consulate General in Houston, USA.


Additional pressure on the market is exerted by fears for the recovery of the US economy. Investors speculate that an increase in the number of coronavirus cases in America and a new round of quarantine restrictions may again suspend economic activity in the country.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.