There was no single theme driving US equities benchmarks lower on Wednesday, as a swirl of factors continued to weigh on investor sentiment.
The S&P 500 logged its fifth-straight day of losses, down 0.75%, while the Dow Jones Industrial Average and Nasdaq fell 0.81% and 0.90%, respectively.
Headlines that Democratic lawmakers intended to push for changes to the revised NAFTA deal and reign in the Trump administration’s financial deregulation policy were unwelcome signs of political headwinds.
Shares of Apple continued a dive into bear market territory, falling nearly 3% on the day.
UK Prime Minister Theresa May’s declaration that she had secured cabinet support for a draft Brexit deal was followed by a brief recovery before stocks fell back to close near session lows.
The likelihood of the Trump administration striking a trade deal with China remains unclear after conflicting messages from White House officials. Vice-President Mike Pence reportedly reiterated that the president was committed to a hardline position on trade, and wouldn’t accept a deal with Beijing without significant concessions.