U.S. stocks fell for the first time in four days as technology shares came under pressure from trade and earnings concerns. Treasuries hit the lowest since February amid inflation worries.
The S&P 500 Index fell 0.9 percent as of 12:07 p.m. New York time. The S&P 500 Index slipped for the first time in four days, tech shares slumped after Taiwan Semiconductor’s disappointing forecast roiled chipmaker stocks. China’s request for concessions from Qualcomm Inc. to acquire NXP Semiconductors NV ratcheted up tensions over trade. Earnings misses from Procter & Gamble Co. and Philip Morris International Inc. weighed on consumer staples.
Source : Bloomberg