Stocks Opened Lower after Trump Comments

U.S. stocks opened lower on Wednesday after President Donald Trump warned of a government shutdown to build a Mexico border wall and threatened to terminate a trade agreement with Mexico and Canada. The Dow Jones Industrial Average lately fell 69.81 points, or 0.32%, to 21,830.08. The S&P 500 lost 6.82 points, or 0.28%, to 2,445.69. The Nasdaq Composite dropped 16.90 points, or 0.27%, to 6,280.58.

Oil prices dropped on Wednesday, as investors assessed mixed messages about Libya’s oil supply and waited for weekly data on U.S. oil production. West Texas Intermediate oil for October lost 13 cents, or 0.3%, to $47.71 a barrel. Brent crude gave up 22 cents, or 0.4%, to $51.66 a barrel.

President Donald Trump threatened Tuesday to bring the U.S. government to the brink of a shutdown if needed to pressure Congress into funding the border wall that was a centerpiece of his 2016 campaign.

Google and Wal-Mart Stores Inc. are joining forces in a partnership that includes enabling voice-ordered purchases from the retail giant on Google’s virtual assistant, challenging rival Amazon.com Inc.’s grip on the next wave of e-commerce.

Lowe’s Cos. Inc. (LOW) reported second-quarter earnings and sales on Wednesday that fell short of analysts’ expectations. It reported earnings of $1.57 a share in the quarter ended on Aug. 4, quite below forecasts that called for profit of $1.61 to $1.64 a share. Revenue of $19.5 billion also fell short of estimates, but reflected a 6.8% increase from the same period last year.