Markets Right Now: Stocks drop on trade worries

National Business

Markets Right Now: Stocks drop on trade worries

The Associated Press

May 17, 2019 06:41 AM

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FILE – In this May 9, 2019, file photo trader Craig Spector works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, May 17.


Richard Drew

AP Photo


NEW YORK

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

9:35 a.m.

Stocks are falling on Wall Street Friday as investors again worry about whether the U.S. and China can settle their dispute over trade.

Technology and industrial companies dropped the most as the S&P 500 heads for a second straight weekly decline. That hasn’t happened so far in a year where the index is up about 14%.

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Deere shares dropped 4.6% after the farm equipment maker’s second quarter earnings missed Wall Street expectations. Deere lowered its outlook for year due to the trade war and a weakened agriculture sector.

The S&P 500 index fell 17 points, or 0.6%, to 2,858.

The Dow slid 155 points, or 0.6%, to 25,708. The Nasdaq dropped 59 points, or 0.7%, to 7,838.

The yield on the 10 year Treasury fell to 2.37% from 2.40% Thursday.

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