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 February 8, 2019 - 11:59 AM EST
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Dow Ditches 270+ on Trade, Growth Fears

Dow Ditches 270+ on Trade, Growth Fears

Stocks fell on Friday as market participants continued to worry about ongoing U.S.-China trade negotiations as well as slowing economic growth.

The Dow Jones Industrial Average hurtled lower 277.77 points, or 1.1%, to 24,891.76, led lower by shares of Goldman Sachs and J.P. Morgan Chase.

The S&P 500 lost 22.68 points to 2,683.96, as the energy and financials sectors lagged.

The NASDAQ Composite slouched 57.92 points to 7,230.44.

Qorvo shares dropped more than 9% while Micron Technology lost 2.6%. Nvidia, meanwhile, declined more than 1.5%.

The Wall Street Journal reported on Friday that the two countries have not yet put together a draft on the matters they agree or disagree. The report comes as a key early March deadline approaches.

It also follows President Donald Trump saying on Thursday he will not meet with Chinese President Xi Jinping before that deadline. White House economic advisor Larry Kudlow also said there is a "pretty sizable distance to go" before China and the U.S. reach a deal.

Prices for the benchmark 10-year U.S. Treasury gained, lowering yields to 2.63% from Thursday's 2.66%. Treasury prices and yields move in opposite directions.

Oil prices docked 27 cents to $52.37 U.S. a barrel.

Gold prices gained $3.80 to $1,318 U.S. an ounce.


Source: Livemoney (February 8, 2019 - 11:59 AM EST)