Wall Street ends in the red on economy concerns

Wednesday, 29. May 2019 22:00

Wall Street closed in the red on Wednesday following another volatile session as investors expressed their concerns over the economic outlook. Market participants seemed to respond to Morgan Stanley's warning about the risk of recession in the United States being "higher than normal," while trade tensions continued to grow as Huawei Technologies Co. Ltd. decided to file a motion for summary judgment on the US National Defense Authorization Act, which currently prohibits government agencies and its contractors from procuring equipment under the pretext of national security.

The Dow Jones ended the session losing 0.87%, or 224 points, as Johnson & Johnson dragged the index down by dropping 4.19%. The Nasdaq 100 lost 0.85% at the close with lululemon athletica plunging 6.89%. Meanwhile, the S&P 500 declined 0.69% as Capri Holdings Ltd sank 9.85%.

The euro was 0.27% down against the US dollar, going for $1.1133 at 4:00 pm ET.

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Breaking the News / GG