Wall St. extends declines as Commerce Secretary Ross comments on China tariffs

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 27, 2019. REUTERS/Brendan McDermid

(Reuters) – U.S. stocks extended declines on Tuesday as U.S. Commerce Secretary Wilbur Ross said on CNBC that U.S. tariffs on Chinese imports due Dec. 15 would be imposed unless there was substantive progress in trade talks.

At 10:32 a.m. ET, the Dow Jones Industrial Average .DJI was down 400.50 points, or 1.44%, at 27,382.54, while the S&P 500 .SPX was down 33.56 points, or 1.08%, at 3,080.31. The Nasdaq Composite .IXIC was down 94.13 points, or 1.10%, at 8,473.85.

Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Shounak Dasgupta

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