All three major indices moved lower on Tuesday as new trade tensions made headlines and lowered global growth concerns. The S&P 500 Index fell 0.61% while the Dow Jones Industrial Average and NASDAQ Composite fell 0.72% and 0.56%, respectively. Elsewhere, stocks in Europe fell 0.6% and Japan’s Nikkei 225 rose 0.2% while Hong Kong’s Hang Seng Index climbed 0.3%. The International Monetary Fund cut its global economic growth forecasts for 2019 from 3.5% down to 3.3% and warned that growth could slow further because of trade tensions and the potential for a messy Brexit. Also driving the day’s action was news that the U.S. is proposing to levy tariffs on some $11 billion of imports from Europe. Investors will be closely watching as we approach first quarter earnings season that many expect will be weak relative to recent quarters.
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