US: Stocks fall on weak data, trade worries

Wall Street stocks fell Friday following lacklustre US economic data and reports the Trump administration is weighing new restrictions on US investment in China.[NEW YORK] Wall Street stocks fell Friday following lacklustre US economic data and reports the Trump administration is weighing new restrictions on US investment in China.

In addition, data reports Friday showed a sharp decline in US consumer spending in August and weak demand for big-ticket manufacturing goods, suggesting a hit to the economy from President Donald Trump's trade war with China. But Hu Xijun, the editor of China's state-controlled Global Times tabloid said in a tweet Friday that the agriculture purchases"signaled China's goodwill, not concessions." And he warned that"real progress in trade talks" would be needed to sustain the purchases.Gregori Volokhine, strategist for Meeschaert Financial Services, told AFP the reports of additional restrictions on China appeared to be part of the Trump administration's bargaining strategy.

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