Wall Street slumps after China delegates cancel U.S. farm visit

Wall Street slumps after China delegates cancel U.S. farm visit

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 18, 2019. REUTERS/Brendan McDermid

(Reuters) – Wall Street’s main indexes dropped sharply on Friday after Chinese agriculture officials who were due to visit U.S. farm states next week canceled their trip to Montana, dampening early optimism on U.S.-China trade talks.

At 1:18 p.m. ET, the Dow Jones Industrial Average .DJI was down 119.02 points, or 0.44%, at 26,975.77, the S&P 500 .SPX was down 16.97 points, or 0.56%, at 2,989.82. The Nasdaq Composite .IXIC was down 85.32 points, or 1.04%, at 8,097.56.

Reporting by Medha Singh in Bengaluru; Editing by Shounak Dasgupta

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