U.S. stock indexes hit their lowest level of a downbeat session on Monday afternoon after President Donald Trump said an announcement on trade with China would come after the regular close of trading. The Dow Jones Industrial Average DJIA, -0.35% gave up about 112 points to 26,043, the S&P 500 index SPX, -0.56% fell 0.6% at 2,888, while the Nasdaq Composite Index COMP, -1.43% retreated by 1.4% at 7,895. The declines followed a late-afternoon comment from Trump during a brief with reporters. "We're going to be announcing something and it will be a lot of money coming into the coffers of the United States of America," he said. China said it may decline a White House offer for renewed trade talks if President Donald Trump carries out the tariff threat. "China is not going to negotiate with a gun pointed to its head," a senior Chinese official told the Wall Street Journal. The Journal reported that Wall Street Journal reported that the Trump administration plans to announce new tariffs of around 10% on $200 billion worth of Chinese products on top of billions of dollars of tariffs that have already been levied.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.