Wall Street Ends Lower After Rollercoaster Day

Investors reacted to media reports that described talks between the US and China as stalled, following the White House's move this week to block Chinese telecommunications company Huawei.

"It feels as though further discussions on trade have been put on hold," said Art Hogan, chief market strategist at National Securities. "Today it seems the door is shut" to further talks, he added.

Worries about China ultimately outweighed two conciliatory trade steps by President Donald Trump: lifting steel tariffs on Canada and Mexico, and a six-month delay on tariffs on auto imports that have worried Europe and Japan.

Stocks retreated again after a mid-morning rally following a University of Michigan report that showed consumer sentiment at a 15-year peak.

Among individual companies, Deere & Company plunged 7.7 percent after lowering its financial forecast for the year, citing "softening conditions" in the agricultural sector - which has been hit hard by Chinese retaliation.

Pinterest dropped 13.5 percent on disappointment over its full-year sales forecast, which lagged some analysts' projections.

Tesla Motors slumped 7.6 percent on worries about the company's cash position after Chief Executive Elon Musk moved to aggressively rein in company expenses. (AFP)