US stocks close lower, give up earlier gains

US stocks fell on Tuesday, to deepen losses as concerns mounted after the start of the impeachment trial of President Donald Trump in the Senate, in addition to concerns about a mysterious Chinese virus, especially after the first actual case of infection in the US.

The World Economic Forum launched today in Davos, Switzerland, which is attended by a number of international figures in the political, economic and technological fields.

Chief among those is President Donald Trump, who has delivered a speech today, in which he boasted his administration's economic gains, and trade deals Washington reached with China, Canada and Mexico, but threatened the EU countries of a potential 25% tariffs on their cars exports to the US if they didn't agree on a fair trade deal.

Whilst Trump ignored that the US Senate began hearing on his trial on accusations of misusing his powers and obstructing Congress.

To the oil market, West Texas Intermediate (WTI) fell by 0.3% to close at $58.34 a barrel.

Brent lost 0.9% to $64.59 a barrel, and hit a day high of $65.3 and low of $64.06.

As for stocks, Dow Jones dipped 0.5% or 152 points to close at 29,196, and hit an intraday high 29,341 and a low 29,146.

Nasdaq lost 0.2% or 18 points to 9,371 points, with a high of 9,397 and a low of 9,350 points.

S&P 500 fell by 0.3% or 9 points to 3,320 with a high of 3,329 and a low of 3,316.