The US stock market lost ground in August as investors were processing what was left of earnings season, the July interest rate cut and continuing uncertainty about the global economy and US-China trade tensions. The Dow Jones Industrial Average inched down by 0.86% in August. The S&P 500 performed a bit better, ending the month 0.53% in the red. On the other hand, tech-heavy NASDAQ Composite slid by 1.66%. August started with President Trump saying he’ll authorize an additional 10% tariff on $300 billion worth of goods and products from China as of September 1, sending stocks into a dive. China responded by saying that it doesn’t want a trade war but will have to take countermeasures if the tariffs go into effect. Less than a week later, Beijing announced it was going to suspend purchases of US agricultural products. Trump retaliated further saying on August 23 that he’ll boost the 25% tariff on $250 billion worth of Chinese goods to 30% as of October 1. China responded by putting tariffs on $75 billion worth of US goods starting September 1, as well as a 25% tariff on cars and a 5% tariff on car parts imported from the US starting December 15.