Wall St. edges lower as trade concerns weigh, big rate cut hopes fade

The S&P 500 and the Dow Industrials were on track to fall for the third straight...

- The S&P 500 and the Dow Industrials were on track to fall for the third straight session on Tuesday, as investors worried over warnings of a hit to earnings from the U.S.-China trade dispute and reined in hopes of a steep interest rate cut this month.

Adding to the downbeat mood, RBC Capital Markets downgraded 3M Co to “sector perform”, citing macro pressures from China, auto and electronics sectors. The industrial conglomerate’s shares fell 2.4% and pulled down the S&P industrial sector .SPLRCI 0.57%. Second-quarter earnings season is expected to start in earnest next week and profits at S&P 500 companies are set to dip 0.2% from a year earlier, according to Refinitiv IBES data.

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