Wall Street's main indexes added to losses on Friday after President Donald Trump said he was not going to make a deal with China for now, exacerbating fears that the U.S.-China trade stand-off would aggravate the global economic slowdown.
Trump's remark followed a report that said Washington was delaying a decision to allow some trade between U.S. firms and China’s telecom equipment maker Huawei again.
That pressured the shares of chipmakers and other tariff-sensitive technology companies. The Philadelphia SE Semiconductor index fell 1.8% and Apple Inc slipped 1.1%.
At 10:59 a.m. ET, the Dow Jones Industrial Average was down 161.38 points, or 0.61%, at 26,216.81, the S&P 500 was down 20.83 points, or 0.71%, at 2,917.26. The Nasdaq Composite was down 75.14 points, or 0.93%, at 7,964.02.
Source : Reuters