US equities decline on tech weakness

US equities decline on tech weakness

On Tuesday, American equities went down, with Facebook leading a dive in the tech sector as well as Nike dragging on the Dow Jones Industrial index, thus setting for a mediocre start for September due to the fact that market participants are concerned over trade clashes between countries.

The equities of Facebook went down by 2.8%, staying on track for their worst trading session since July 26, right after brokerage Moffett Nathanson had the social media giant downgraded, warning of profit surge deceleration.

As for other Internet shares such as Alphabet, Snap, and Twitter they went down 1.4%-3.8%, while the S&P tech index slumped by 0.50%.

Nike slumped by 2.7% because the company experienced a backlash after it opted for Colin Kaepernick, the first NFL sportsman who dared to kneel during the national anthem, protesting against racism, to take part in a fresh advertising campaign.

The sink in the key indexes occurred after a strong August. The Nasdaq reported its most impressive monthly revenue since January.

Consultations on an American proposal for fresh levies on China’s products are set to conclude on September 5, after which American leader can follow through on plans to slap duties on $200 billion more of China’s products, although it’s unclear how rapidly it will take place.

Negotiations between the United States and Canada to have the North American Free Trade Agreement renegotiated concluded on a gloomy note on Friday, although statesmen set plans to resume their negotiations on Wednesday.

Amidst the downbeat mood, Amazon's equities rallied by 1.9% hitting $2,050.50. The company joined Apple in the mind-blowing $1 trillion market cap.

The Dow Jones Industrial Average slumped by 0.28 percent, coming up with 25,892.71. Besides this, the S&P 500 decreased by 0.33% showing 2,891.97. Furthermore, the Nasdaq Composite dipped by 0.43% showing 8,074.54.

Similar

American futures tack on

On Thursday, American equities jumped a bit due to the fact that market participants set aside fears over the everlasting trade conflict between China and America and turned their focus to economic data as well as earnings out later in the trading…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera