Wall Street drops on trade uncertainty

Credit: Reuters Studio
Published on May 17, 2019 - Duration: 01:13s

Wall Street drops on trade uncertainty

Wall Street ended lower on Friday as trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses.

Fred Katayama reports.

Advertisement

Wall Street drops on trade uncertainty

Stocks on Wall Street fell in the last hour of trading in a choppy session Friday.

Investors unloaded stocks after CNBC reported the next round of U.S.-China trade talks was in flux.

The Dow fell for the fourth straight week, its longest weekly losing streak in three years.

Exencial Wealth Advisors chief investment officer, Tim Courtney: SOUNDBITE: EXENCIAL WEALTH ADVISORS CHIEF INVESTMENT OFFICER, TIM COURTNEY, (ENGLISH) SAYING: "Our feeling is these last couple days including today where we've been just kind of bouncing around a little bit higher, a little bit lower, the market's still grasping for information on this largest of the kind of the variables out there right now which is the trade war." The rising trade tensions pushed Deere to cut its full-year forecast.

That drove down shares of the farm equipment maker.

Trade fears also hurt shares of industrials Caterpillar and 3M.

American investors did have something to cheer about China.

Starbucks' challenger on the mainland, Luckin Coffee, sparkled on its debut on the Nasdaq.

Shares rose almost 20 percent.

Applied Materials was among the top gainers on the S&P 500.

The chip gear manufacturer assuaged investor concerns about slowing semiconductor demand by producing quarterly profit and revenue that beat Wall Street's forecasts.

You are here

Recent related news from verified sources

BEIJING (AP) — Asian stock markets followed Wall Street lower Thursday after President Donald Trump reignited trade fears by saying he could impose more...
3 days ago • SeattlePI.com

BANGKOK (AP) — Asian shares rebounded Friday on hopes for progress in trade talks between China and the U.S., extending overnight gains on Wall...
2 days ago • SeattlePI.com

Wall Street's three main indexes edged lower in choppy trade on Monday, easing from record highs, as declines in Boeing and bank stocks after Citigroup's...
5 days ago • Reuters

U.S. stocks were lower on Tuesday as results from big Wall Street lenders rekindled concerns about slowing profit growth in a low interest rate environment,...
4 days ago • Reuters

Recent related videos from verified sources

What Does Leana Wen’s Firing Reveal About Planned Parenthood? 00:47
Credit: Wochit News - Published 1 day ago 

Jim Cramer's Thoughts on Microsoft's Earnings, the Fed, Nucor and Steel 14:47
Credit: The Street - Published 1 day ago 

Microsoft Earnings Blew Away Estimates 00:32
Credit: Wochit News - Published 1 day ago 

Elizabeth Warren’s New Plan Targets Wall Street And Private Equity ‘Vampires’ 00:31
Credit: WBZ CBS Boston - Published 2 days ago 

You might like