Market Update:
The Dow Jones fell 0.4% to 25286 and the S&P 500 fell 0.1% as a resolution to the US- China trade war remained elusive and oil prices plummeted the most in 3 years, dragging the energy sector lower; Base metal prices were mixed on the London Metals Exchange, Copper rose 0.2% on reports that China and the US have restarted trade talks, Zinc declined the most by 0.7%; Natural gas futures jumped above $4 per million British thermal units for the first time in almost four years as cold shrouded most of the U.S., stoking concern that unusually low stockpiles will fall short of heating needs this winter; Kazakhstan’s ambitious plan to list stakes in its most-prized state assets is finally underway after the country’s uranium giant, Kazatomprom floated in London and Astana with a valuation of $3 billion; A sharp drop in commodity prices prevented Australia's stock index from shaking off sharp early declines, making it the worst-performing market in the Asia-Pacific yesterday, down 1.7% to 5923.
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