Markets Right Now: Stocks drop on trade worries
Posted May 17, 2019 6:40 am.
NEW YORK — The latest on developments in financial markets (all times local):
9:35 a.m.
Stocks are falling on Wall Street Friday as investors again worry about whether the U.S. and China can settle their dispute over trade.
Technology and industrial companies dropped the most as the S&P 500 heads for a second straight weekly decline. That hasn’t happened so far in a year where the index is up about 14%.
Deere shares dropped 4.6% after the farm equipment maker’s second quarter earnings missed Wall Street expectations. Deere lowered its outlook for year due to the trade war and a weakened agriculture sector.
The S&P 500 index fell 17 points, or 0.6%, to 2,858.
The Dow slid 155 points, or 0.6%, to 25,708. The Nasdaq dropped 59 points, or 0.7%, to 7,838.
The yield on the 10 year Treasury fell to 2.37% from 2.40% Thursday.
The Associated Press
