U.S. stocks trade lower amid tariffs debate

NEW YORK, March 6 (Xinhua) -- U.S. stocks pared early gains to trade lower in midday amid ongoing tariffs debate in the country.

At midday, the Dow Jones Industrial Average lost 126.70 points, or 0.51 percent, to 24,748.06. The S&P 500 decreased 5.62 points, or 0.21 percent, to 2,715.32. The Nasdaq Composite Index was down 2.86 points, or 0.04 percent, to 7,327.84.

U.S. equities started to pare gains around mid-session on Monday after media reports showed that U.S. President Donald Trump's chief economic adviser Gary Cohn could leave the administration if the tariffs proposed by the president were implemented.

Trump announced a plan to impose steep tariffs on steel and aluminum imports last week. Many worried that the proposed tariffs would raise prospects of a trade war and hurt the U.S. economy.

Market concerns eased a little on Monday after Trump tweeted that the tariffs plan could come off "if new & fair NAFTA agreement is signed."

Analyst said the latest news about Cohn, however, rekindled uncertainties over the tariff debate inside the administration and is causing investors to take a wait-and-see approach. Enditem