Wall Street in the red as trade war hits US big names

Alphabet Inc's losses over 2.0%, dragging the tech-related sector lower.
US indexes bounced from early lows, falling anyway for a second consecutive day.

FXStreet Team FXStreet

US indexes were sharply down this Monday, trimming part of their daily losses ahead of the close, yet finishing in the red amid concerns surrounding US-Sino trade war. Tech-related equities led the decline, with Alphabet Inc's, Google's parent company down over 2.0% following reports the company suspended business with Huawei. Additionally, Bloomberg reported that companies like Intel, Qualcomm and Broadcom will not supply Huawei until further notice

The Dow Jones Industrial Average lost 84 points to close at 25,679.90 while the S&P shed 19 points or 0.67%, ending the day at 2,840.23. The Nasdaq Composite was the worst performer, down 114 points or 1.46% to settle at 7,702.38. Despite persistent risk aversion, US government bond yields held steady, throughout the day, with the benchmark yield for the US 10-year Treasury note ending the day at 2.41%.

Fears that the trade war will exacerbate the ongoing global economic slowdown would likely keep pushing investors away from high-yielding stocks.

DJIA

Overview
Today last price	25704
Today Daily Change	-66.00
Today Daily Change %	-0.26
Today daily open	25770

Trends
Daily SMA20	26128.6
Daily SMA50	26106.64
Daily SMA100	25657.08
Daily SMA200	25430.5

Levels
Previous Daily High	25770
Previous Daily Low	25770
Previous Weekly High	25956
Previous Weekly Low	25230
Previous Monthly High	26704
Previous Monthly Low	26062
Daily Fibonacci 38.2%	25770
Daily Fibonacci 61.8%	25770
Daily Pivot Point S1	25770
Daily Pivot Point S2	25770
Daily Pivot Point S3	25770
Daily Pivot Point R1	25770
Daily Pivot Point R2	25770
Daily Pivot Point R3	25770

Author

FXStreet Team

FXStreet

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