Wall Street starts in the red as U.S. trade tensions heat up with China - National

Market Overview - Stocks on Wall Street experienced a decline, with the S&P 500 falling by 1%, the Dow Jones Industrial Average decreasing by 383 points (0.8%), and the Nasdaq composite dropping by 1.5% [1] - The recent market fluctuations were influenced by trade tensions between the U.S. and China, with Wall Street experiencing its worst day since April followed by its best day since May [2] Trade Relations - The trade conflict between the U.S. and China is highlighted as particularly significant due to both countries being the largest economies globally [4] - China's Commerce Ministry has banned dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean, impacting U.S. efforts to rebuild its shipbuilding industry [2] International Market Impact - European and Asian markets also saw declines, while Canada's main stock index, the Toronto Stock Exchange, rose by over 1% [3] Economic Indicators - The U.S. economy has not yet faced major impacts from the shifting tariff policies, but there are concerns about potential retaliatory tariffs affecting consumer costs [6] - The U.S. government shutdown has halted regular economic updates, leading to increased focus on upcoming company earnings and forecasts for economic insights [6] Company Performance - JPMorgan Chase's stock fell by 3.8% despite exceeding profit forecasts, while Wells Fargo's stock rose by 3.5% after beating analysts' expectations [7] - Johnson & Johnson's stock decreased by 1.8% following the announcement of separating its orthopedics business into a standalone entity [7] Treasury Yields - Treasury yields remained stable, with the yield on the 10-year Treasury slightly decreasing to 4.04% from 4.05% [8]