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Wall St. Lower as Tech Stocks Sell-Off on Huawei Fallout Worries


Monday, 20 May 2019 23:34 WIB

DOW JONESS & P 500Indeks NasdaqSahamAS


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U.S. stocks fell on Monday, as Washington's crackdown on China's Huawei Technologies stoked fears about a hit to the broader technology sector and ratcheted up trade tensions between the world’s two largest economies.

Apple Inc slumped 3.3%, weighing the most on the three main indexes and driving down the S&P 500 technology sector 1.27%, the biggest drop among the six S&P sectors trading lower.

U.S. suppliers of Huawei, including Qualcomm, Micron Technology and Broadcom Inc, fell between 3% and 5%, while the Philadelphia Semiconductor Index slid 2.9% to its lowest level in over two months.

At 11:13 a.m. ET, the Dow Jones Industrial Average was down 79.01 points, or 0.31%, at 25,684.99. The S&P 500 was down 11.90 points, or 0.42%, at 2,847.63 and the Nasdaq Composite was down 90.76 points, or 1.16%, at 7,725.53.

Source : Reuters


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