Nasdaq, S&P fall after new US-China trade fears

Friday, 27. September 2019 18:22

The S&P 500 and the Nasdaq 100 turned to losses on Friday and the Dow Jones Industrial Average pared gains after reports emerged that the United States is looking into potential measures against Chinese companies, including the possibility of limiting US investors' portfolio flows into China and restrictions on US government pension funds' exposure to the Chinese market.

The Nasdaq 100 fell 0.41% at 12:17 pm ET. The index was led lower by Micron Technology which dropped 9.56% at 12:19 pm ET as the US company faces issues over its partnership with Huawei. Chinese Nasdaq-listed JD.com was also among the biggest losers in the index. Meanwhile, Alibaba Group Holding Ltd, which trades on the New York Stock Exchange but isn't part of a major index, lost 3.54% at 12:06 pm ET.

The S&P 500 lost 0.14% at 12:18 pm ET. The Dow Jones was flat, trading 0.05% in the green at 12:18 pm ET.

Related Links: JD.com Inc.Alibaba Group Holding Ltd.Micron Technology Inc.
Author:
Breaking the News / VP