NEW YORK: U.S. stocks fell on Tuesday as investors worried about global growth prospects after data showed U.S. factory activity shrank in August for the first time since 2016 and the United States and China imposed new tariffs on each other over the weekend.
"Not only have expectations been receding for a U.S.-China deal but they can't even agree on a date to meet," said Young. Trade-sensitive industrials fell 1.4per cent, making for the biggest percentage loser among the S&P 11 major sectors. Technology stocks fell 1.3per cent, weighed down by chipmakers, which have a large revenue exposure to China. The Philadelphia Semiconductor index dropped 1.8per cent.
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