US STOCKS-Wall St falls as Trump greenlights China tariffs

Reuters

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    * Trump wants tariffs on $200 bln more in China goods-report
    * Indexes down: Dow 0.17 pct, S&P 0.15 pct, Nasdaq 0.26 pct
    * Financials gain as 10-yr Treasury yields top 3 pct
    * NiSource slides on link to Boston suburbs gas blast

 (Changes quotes, updates to early afternoon)
    By Shreyashi   Sanyal
    Sept 14 (Reuters) - U.S. stocks fell back on Friday after
President Trump instructed aides to proceed with tariffs on
about $200 billion in Chinese products, despite Treasury
Secretary Steven Mnuchin's attempts to restart talks with
Beijing.
    A source familiar with the situation confirmed stories
initially carried by both Bloomberg and Fox News on the moves by
the White House.  urn:newsml:reuters.com:*:nL2N1W0158
    Wall Street, which had been trading marginally in positive
territory on the back of a rise in U.S. Treasury yields above 3
percent, reversed. 
    "If Trump is willing to go ahead with the tariffs then that
is significant enough to sour markets," said Bryan Reilly
managing director at CIBC Private Wealth Management in Boston,
Massachusetts.
    "Should this trade uncertainty prevail, then sentiment only
has one way to go from here and that is down."
    At 12:39 a.m. ET the Dow Jones Industrial Average  .DJI 
fell 0.17 percent to 26,102.37, the S&P 500  .SPX  0.15 percent
to 2,899.71 and the Nasdaq Composite  .IXIC  0.26 percent to
7,992.72.
    Financial stocks  .SPSY  held on to their gains and were
last up 0.52 percent. Only three of the 11 major S&P sectors
were higher.
    The real estate index  .SPLRCR  fell 1.11 percent, while
utilities  .SPLRCU  0.69 percent and telecoms  .SPLRCL  declined
0.77 percent.
    Also weighing on utilities was NiSource  NI.N , which
tumbled 9.9 percent after fire investigators said they suspected
the company's unit, Columbia Gas, was linked to a series of gas
explosions in Boston suburbs on Thursday.  urn:newsml:reuters.com:*:nL2N1W00A7
    The energy sector  .SPNY  was up 0.69 percent, making it the
best performing group on the day.
    Walmart  WMT.N  dropped 0.5 percent after Goldman Sachs
raised questions around the purchase of a majority stake in
India's Flipkart.
    L Brands Inc  LB.N  jumped 4.8 percent after the owner of
Victoria's Secret said it would close all 23 Henri Bendel stores
and its website in January.  urn:newsml:reuters.com:*:nL3N1VZ69P
    Adobe Systems  ADBE.O  rose 2.6 percent after the company
topped quarterly revenue and profit expectations.  urn:newsml:reuters.com:*:nL3N1VZ5U5
    Declining issues outnumbered advancers for a 1.18-to-1 ratio
on the NYSE, but advancing issues outnumbered decliners by a
1.19-to-1 ratio on the Nasdaq.
    The S&P index recorded 45 new 52-week highs and no new lows,
while the Nasdaq recorded 100 new highs and 48 new lows.

 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak
Dasgupta and Arun Koyyur)
 ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780 ;
Reuters Messaging:
Shreyashi.Sanyal.thomsonreuters.com@reuters.net))

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