NEW YORK: Wall Street stocks dipped in early trading Thursday as renewed trade war threats from US President Donald Trump unsettled investors, while Boeing shares slumped following a deadly Air India crash involving one of its 787 Dreamliners.
The cautious mood on markets came despite Trump’s recent overtures towards China on trade. Just hours after signaling a fresh detente with Beijing, Trump reignited tensions by warning he would soon “send letters out” containing ultimatums to other key trading partners.
The escalating trade rhetoric compounded market jitters already rattled by the Boeing incident. Shares of the US aerospace giant plunged around five percent after Air India Flight 171 — a Boeing 787-8 Dreamliner — crashed shortly after takeoff in Ahmedabad, India, with all 242 people on board feared dead.
Roughly 25 minutes into Thursday’s session, the Dow Jones Industrial Average had fallen 0.4% to 42,705.52 points. The S&P 500 slipped 0.1% to 6,018.24, while the tech-heavy Nasdaq Composite also lost 0.1% to 19,595.85.
Economic data offered little relief, with US wholesale prices inching up by 0.1% last month. While modest, the uptick reinforced analysts’ concerns that Trump’s tariff threats could stoke inflation in the months ahead.
Amid the broader declines, Oracle emerged as a bright spot on the market, surging 12.1% after delivering an upbeat earnings report. The tech giant reported eight percent annual revenue growth and projected that the coming year would be “even better.”
Investors will remain closely attuned to developments on both trade negotiations and Boeing’s response to the fatal crash, with both stories expected to drive market sentiment in the coming days.
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