Markets 'taking a well-earned deep breath': strategist
Markets 'taking a well-earned deep breath': strategist"
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U.S. stocks are mostly lower in quiet trading after booking a strong May performance, feeling pressure on renewed global trade tensions after President Donald Trump last week accused China
of violating a preliminary agreement reached in Geneva last month, which prompted a response from Beijing. The European Union was also threatening retaliation if talks with the U.S.
don't soon bear fruit. And Trump on Friday announced he was further raising tariffs on steel and aluminum. The Dow Jones Industrial Average was off 177 points, or 0.4%. The S&P 500
was down 0.2%. The Nasdaq Composite was clinging to a 0.1% gain. The subdued moves after huge swings over the last two months show that "markets are finally taking a well-earned deep
breath," Mark Hackett, chief market strategist at Nationwide, said in emailed comments.
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