Wall Street Close: Bulls capitulate into the close on US/Sino trade wars

Wall Street's benchmarks ended the day on the back foot on late-session news that the US administration is considering a range of sanctions on Chinese officials, businesses and financial institutions.

Consequently, the Dow Jones unofficially closes up 509.24 points, or 2.08%, at 24,974.40, the S&P 500 unofficially closes up 32.72 points, or 1.11%, at 2,988.17 and the NASDAQ unofficially closes up 17.71 points, or 0.19%, at 9,342.30 as the US mulls over Beijing’s effort to crack down on Hong Kong.

More to come...