Wall Street slides as trade anxiety resumes

24 May, 2019 12:00 AM printer

NEW YORK: US stocks fell back into the red on Wednesday, putting equities down for three of the last four sessions as investors reacted to reports of possible new US-China trade frictions.

US chip titan Qualcomm also drove tech shares lower after a federal judge found the company had “strangled competition” by violating US anti-trust laws, reports AFP.

The benchmark Dow Jones Industrial Average fell 0.4 percent to close at 25,776.61, leaving it essentially flat for the week.

Meanwhile, the broader S&P 500 fell also 0.4 percent to 2,856.27, while the tech-heavy Nasdaq lost 0.5 percent to finish at 7,750.84, both turning negative for the week.

Investors were jarred by media reports that President Donald Trump was considering blacklisting the Chinese video surveillance firm Hikvision in a move similar to this month’s ban on sales to telecommunications firm Huawei, which likewise battered stocks.