Markets Right Now: Stocks extend losses on Wall Street

NEW YORK — The latest on developments in financial markets (all times local):

4 p.m.

Stocks are ending lower on Wall Street as tensions rachet up again between the U.S. and China just before the two sides are set to meet again to discuss trade.

Technology companies and banks took the worst of the losses Tuesday.

Qualcomm, a chipmaker which relies heavily on sales to China, fell 4.6%. Bank of America gave back 2.4%.

Safe-play sectors like utilities held up better.

The losses came after the U.S. blacklisted certain Chinese tech companies, saying they are helping Beijing repress Muslim minority groups there.

The S&P 500 fell 45 points, or 1.6%, to 2,893.

The Dow Jones Industrial Average lost 313 points, or 1.2%, to 26,164. The Nasdaq lost 132 points, or 1.7%, to 7,823.

Bond prices rose. The yield on the 10-year Treasury fell to 1.53%.

___

11:45 a.m.

Stocks are falling on Wall Street as tensions rise between Washington and Beijing just ahead of the latest round of trade talks.

The broad losses in midday trading Tuesday came after the U.S. blacklisted Chinese tech companies that develop facial recognition and other technology. The U.S. says the technology is being used to repress China's Muslim minority groups.

Technology companies and banks fell more than the rest of the market. Cisco Systems lost 2.7% and Bank of America gave back 2.6%.

The S&P 500 fell 38 points, or 1.3%, to 2,900.

The Dow Jones Industrial Average lost 307 points, or 1.2%, to 26,169. The Nasdaq lost 104 points, or 1.3%, to 7,851.

Bond prices rose as investors sought out low-risk investments. The yield on the 10-year Treasury fell to 1.52%.

___

9:35 a.m.

Stocks are opening lower on Wall Street as tensions rose between Washington and Beijing just ahead of the latest round of trade talks.

The broad losses early Tuesday came after the U.S. blacklisted Chinese tech companies that develop facial recognition and other technology. The U.S. says it's being used to repress China's Muslim minority groups.

Banks and health care companies fell the most. Bank of America gave up 2.4% and Thermo Fisher Scientific lost 3.5%.

The S&P 500 fell 24 points, or 0.8%, to 2,914.

The Dow Jones Industrial Average lost 206 points, or 0.7%, to 26,275. The Nasdaq lost 60 points, or 0.8%, to 7,894.

Bond prices rose as investors sought out low-risk investments. The yield on the 10-year Treasury fell to 1.51%.

You may also interested in

The hidden risk to the economy in corporate balance sheets

Aug 24, 2016

America has a debt problem, and the big borrower this time may surprise you: Corporate America

Global stocks rise as investors weigh future of US rates

Aug 30, 2016

Global stock markets mostly rose on Tuesday as investors weighed the possibility and timing of another U.S. interest rate increase this year

Asian stocks mixed ahead of US jobs data

Aug 31, 2016

Asian stocks are mixed Wednesday in listless trading ahead of jobs data later this week and continued anticipation of higher interest rates in the U.S. Japan's benchmark Nikkei 225 gained 0.8 percent to 16,857.07 in morning trading

Broaden News
Search

Manage The Numbers is the world’s fastest-growing finance news website, featuring the latest money and market news, along with in-depth analysis so you can make the best decision.

Contact us: sales@managethenumbers.com

Subscribe to our newsletter!

Name

Email