GLOBAL MARKETS-U.S. Treasury yields drop, stocks slide as global slowdown fears loom

NEW YORK, Sept 3 (Reuters) – Benchmark 10-year U.S. Treasury yields fell on Tuesday to their lowest since July 2016 and all three major U.S. stock indexes lost ground in a risk-off session driven by heightened trade worries and an unexpected contraction of U.S. factory activity.

U.S. President Donald Trump said bilateral trade talks with China were going well, but warned he would be “tougher” if negotiations extend beyond the 2020 U.S. presidential election and he is re-elected.

U.S. manufacturing output shrank in August for the first time in 3-1/2 years, according to the Institute for Supply Management’s Purchasing Managers Index (PMI), stoking fears that the global economic slowdown has reached American shores.

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