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 August 9, 2019 - 4:33 PM EDT
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Trade Hopes Dim, Stocks Limp into Weekend

Trade Hopes Dim, Stocks Limp into Weekend

Stocks fell on Friday as Wall Street concluded a wild week amid trade war fears and worries over the global economy.

The Dow Jones Industrials subtracted 90.75 points to 26,287.44

The S&P 500 stepped back 19.44 points to 2,918.65

The NASDAQ faltered 80.02 points, or 1%, to 7.959.14

Stocks had a wild week, with the major indexes recording their biggest one-day selloff of the year on Monday. The indexes recovered some of those losses on Tuesday. On Wednesday, stocks resumed their selloff. By Thursday's close, the indexes had recovered most of their losses from Monday's drop.

Thus, the Dow ended the week on Friday down 0.75%. The S&P 500 slid 0.5%, and the NASDAQ forfeited 0.6%.

Media reports circulated early Friday that the U.S. is holding off on giving permission to U.S. companies to use Huawei products.

President Donald Trump told reporters on Friday the U.S. will not do business with Huawei, adding that the U.S. is not ready to strike a trade deal with China.

Micron Technology and Skyworks Solutions both closed more than 2.5% lower.

Prices for the benchmark 10-year U.S. Treasury fell once more, lifting yields to 1.74% from Thursday's 1.71%. Treasury prices and yields move in opposite directions

Oil prices gained $1.88 to $54.42 U.S. a barrel.

Gold prices were unchanged at $1,509.50 U.S. an ounce.


Source: Livemoney (August 9, 2019 - 4:33 PM EDT)