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Most stock indices advanced as trade worries subsided
Shares were mixed in lackluster trading Wednesday. The Dow Jones industrials gained 0.6 percent — it climbed to its best closing level since late January. The S&P edged up 0.1 percent while the Nasdaq retreated 0.1 percent. Trading was choppy amid lingering concerns about the trade dispute between the US and China. With the widely anticipated tariff announcements in the past, traders were now focusing on next week's Federal Reserve meeting.
Most share indices advanced even though the US and China enacted tariffs
US stocks, led by gains in consumer discretionary, technology and industrial stocks, rallied as investors shrugged off escalating trade rhetoric between the United States and China and rebounded from Monday’s selloff. The Dow Jones industrials were up 0.7 percent, the S&P gained 0.5 percent and the Nasdaq was 0.8 percent higher. Stocks gained even though the US/China trade war stepped up. Beijing retaliated against Washington’s move to place new tariffs on a further $200 billion of Chinese imports and placed tariffs on US$60 billion of US goods in retaliation for the new US tariffs. The tariff rates will be levied at 5 and 10 percent, instead of the previously proposed rates of 5, 10, 20 and 25 percent, according to the Finance Ministry.