seek permission from the World Trade Organization to inflict sanctions upon the U.S. as tensions between the two largest global economies continue. Last Friday, President Donald Trump told reporters that he was “ready to go” on hitting China with tariffs on an additional $267 billion of goods, on top the tariffs on $200 billion in goods he has threatened.
The tensions pushed the S&P 500 off a record level reached late last month. Pressure in tech shares also contributed to the index’s easing from the all-time high. The S&P 500 tech sector is down 2.3 percent this month.