NEW YORK: US stocks closed lower on Tuesday, with initial gains giving way to declines as the likelihood of a prolonged trade war between the United States and China once again kept risk appetite in check.U.S. President Donald Trump on Monday said he was "not yet ready" to make a deal with China, although he expected one could be reached in the future. An expanding tariff battle between the two sides has raised concerns the trade war would lead to a global economic slowdown. Clearly it’s all about trade. About 6.67 billion shares changed hands in U.S. exchanges on Tuesday, compared with the 6.99 billion-share daily average over the last 20 sessions.

Source: The Star May 28, 2019 20:15 UTC