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