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September 01, 2020 1:37pm
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Lower open as China retaliates with increased tariffs

China imposed tariffs on 128 products from the United States in retaliation for tariffs on imported Chinese aluminum and steel that the U.S. announced last month. The markets opened lower with the Dow losing 27 points to 24,076. Nasdaq tumbled 47 points to 7016.


On the upside


Walmart (NYSE: WMT) is reportedly exploring a potential acquisition of Humana (NYSE: HUM).


Commvault Systems (Nasdaq: CVLT) issued a statement that the company has had initial discussions with activist investor Elliott Management.


Humana INYSE: HUM), MultiPlan, Quest Diagnostics (NYSE: DGX), and UnitedHealth Group (NYSE: UNH) launched a program applying blockchain technology to improve data quality and reduce administrative costs.

On the downside


Alkermes (Nasdaq: ALKS) received a Refusal to File letter from the Food and Drug Administration for the biopharmaceutical's New Drug Application for its depression treatment ALKS 5461.


ICICI Bank (NYSE: IBN) was fined approximately $9 million for failing to comply with rules regarding the sale of government securities.


The Department of Justice is investigating reports that Ticketmaster parent company Live Nation (NYSE: LYV) pressured venues to use Ticketmaster to sell tickets.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 3 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 lost 7 points to 2,633. Bitcoin climbed $75 to $6,895.


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