Stock-market losses have accelerated since Wednesday’s open on catalysts that include the U.S.-China trade conflict, a continued selloff in gold and worries about the economic outlook, according to global strategist Gary Schlossberg at Wells Fargo Investment Institute.
A report from Reuters, which indicated that the Trump administration is considering curbs on software-powered exports to China, “just added to the concern in the market generally about the trade outlook,” Schlossberg said via phone. Meanwhile, gold’s selloff was heightening worries about volatility and “there is some concern about the direction that the economy may be going in, notwithstanding the strong third-quarter earnings reports we have seen.”
