NEW YORK: Wall Street stocks dipped early Monday with worries about trade protectionism pressuring global markets, while petroleum-linked equities fell on the latest drop in oil prices.

Dow members ExxonMobil and Chevron were among the equities in retreat as US oil prices slipped further below $50 a barrel on worries about excess supply in the US market.

Analysts also cited uncertainty about a range of US policy debates in Washington and unease after G20 ministers backed away from a long-standing commitment to avoid trade protectionism.

READ  Jangan buat pusingan U isu harga siling minyak, kata Tony Pua

googletag.cmd.push(function() {
googletag.defineSlot(‘/26812591/FMT_ROS_InContent_300x250’, [[300, 250],[336, 280]], ‘div-gpt-ad-1462811451620-0’).addService(googletag.pubads());
googletag.display(‘div-gpt-ad-1462811451620-0’); });

new innity_adZone(“51de85ddd068f0bc787691d356176df9”, “59176”, {“origin”: “MY”});

About 20 minutes into trading, the Dow Jones Industrial Average was at 20.911.95, down less than 0.1 percent.

The broad-based S&P 500 lost 0.1 percent at 2,374.95, Nasdaq Composite Index dropped less than 0.1 percent at 5,898.61.

European markets also retreated, a decline attributed to the G20 shift, which followed the Trump administration’s stance at a meeting the group’s finance ministers and central bank governors in Germany.

READ  Tom Hardy to play supervillain ‘Venom’ in new Marvel-based movie

“We see a continuation of the gradual rise in protectionism in recent years and for globalization to stall, but we see a major rise in protectionism — including the risk of trade wars — as one of the main risks to the global outlook,” said Citi analyst Ebrahim Rahbari.




READ  Kaia Gerber shows a carefree side in latest Marc Jacobs campaign