Investing.com – Wall Street was slightly lower as investors stayed cautious amid a lack of progress in U.S.-China trade talks, while slowing growth in Europe increased worries about a global recession.
Manufacturing activity in Germany fell to its lowest level since 2009 this month, while manufacturing in the euro zone slipped to a six-year low and services grew at their slowest pace in eight months, according to data from IHS Markit.
Facebook (NASDAQ:FB) fell 0.8%, while Amazon.com (NASDAQ:AMZN) slumped 1.3% after Morgan Stanley (NYSE:MS) lowered its price target on the company by $100 to $2,200, citing lower near-term profitability.
Overstock.com (NASDAQ:OSTK) declined 12.8% after it said its Chief Financial Officer Greg Iverson has resigned. The news overshadowed reports that it had appointed Jonathan Johnson as CEO.
In commodities, the U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.2% to 98.282 and gold futures rose 0.8% to $1,527.35 a troy ounce. Crude oil futures gained 0.3% to $58.26 a barrel.
Stocks – Wall Street Treads Water on Trade, Global Growth Concerns
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