Stocks Ended Lower amid Renewed China Tariff Worries

U.S stocks ended lower on Thursday on a report that President Donald Trump is likely to press ahead with tariffs against $200 billion more worth of Chinese products. The Dow Jones Industrial Average fell 137.65 points, or 0.53%, to 25,986.92. The S&P 500 lost 12.91 points, or 0.44%, to 2,901.13. The Nasdaq Composite dropped 21.32 points, or 0.26%, to 8,088.36.

Oil prices on Thursday extended a climb to their highest levels in August, buoyed by two consecutive weekly declines in U.S. crude supplies and ongoing concerns over tighter global inventories tied to U.S. sanctions on Iran. October West Texas Intermediate crude tacked on 74 cents, or 1.1%, to settle at $70.25 a barrel. October Brent crude gained 63 cents, or 0.8%, at $77.77 a barrel.

President Donald Trump wants to move ahead with a plan to impose tariffs on $200 billion in Chinese imports as soon as a public-comment period concludes next week, Bloomberg News reported.