National Business
Markets Right Now: Stocks drop on trade worries
The Associated Press
May 17, 2019 06:41 AM
ORDER REPRINT
→
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%.
Unlimited Digital Access: Only $0.99 For Your First Month
Get full access to The Bellingham Herald content across all your devices.
SAVE NOW
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.