US stocks edge lower amid uncertainty over trade, Iran

• Wall Street stocks edged lower early Monday amid lingering unease over the US-China trade war.
• About 20 minutes into trading, the Dow Jones Industrial Average stood at 26,908.92, down 0.1 percent.

NEW YORK: Wall Street stocks edged lower early Monday amid lingering unease over the US-China trade war and anticipation of a UN General Assembly meeting expected to focus on Iran.

Analysts cited remarks late Friday from US President Donald Trump downplaying the odds of a China trade deal before the 2020 presidential election as adding downward pressure to markets.

The losses in New York also came as European bourses retreated following lackluster eurozone data. An index of German business growth fell to its lowest level in nearly seven years.

About 20 minutes into trading, the Dow Jones Industrial Average stood at 26,908.92, down 0.1 percent.

The broad-based S&P 500 was down a hair at 2,991.56, while the tech-rich Nasdaq Composite Index shed less than 0.1 percent at 8,114.44.

After three straight weeks of gains, major indices fell last week amid worries over trade and a spike in oil prices after an attack on Saudi Arabian oil assets that the US and has blamed on Iran.

Investor confidence was also challenged by sudden moves by the New York Federal Reserve to boost liquidity in the financial system and prevent short-term interest rates from rising too high.

The New York Fed said Friday it will inject billions into the US financial plumbing on a daily basis for the next three weeks.

In addition to the UN gathering in New York, key data this week includes data on consumer confidence and home sales.