US: Stocks retreat on economy and trade jitters

And Cyber Monday sales were expected to hit a record following US$11.6 billion in online sales on Thanksgiving and Black Friday.from Brazil and Argentina, boosting shares of US steel makers US Steel Corp and AK Steel Holding Corp by 4.2 per cent and 4.7 per cent, respectively.

The news comes on the heels of recent Wall Street highs, driven to records last week on hopes of an imminent"phase one" trade agreement between the United States and China. "This is not just about Trump announcing steel tariffs, but fears that he's going to allow increases in tariffs against China on December 15," added Mr Pursche."That's part of the story.

The Dow Jones Industrial Average fell 267.35 points, or 0.95 per cent, to 27,784.06, the S&P 500 lost 27 points, or 0.86 per cent, to 3,113.98 and the Nasdaq Composite dropped 97.48 points, or 1.12 per cent, to 8,567.99.

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