US stocks witnessed a decline due to talks surrounding a possible trade deal between the United States and China. The talks overshadowed the strong earnings reports from Apple and Facebook.
The US stock fell for the second time in the past seven days after the benchmark index notched intraday record highs in the past three sessions. Ken Polcari, senior market strategist at SlateStone Wealth LLC in Jupiter, Florida said that one should not be concerned about the markets witnessing a fall, because, after unstable market conditions for two weeks, stocks are expected to decline a bit. Meanwhile, the stocks of Apple Inc recorded an increase of 2.26% after the iPhone maker forecast sales for the holiday shopping quarter ahead of expectations. Facebook Inc also increased by 1.81% after reporting an uptick in users in lucrative markets and its third straight rise in quarterly sales growth.