Dow Opens Lower, Set for Worst Week of 2019 Amid Tariff Battle; Wall St. awaits Uber's IPO
Friday, 10 May 2019 20:44 WIB |
MARKET UPDATE |DOW JONESS & P 500Indeks NasdaqSahamAS
U.S. stocks opened modestly lower Friday, with the three main benchmarks poised for their worst weekly losses of 2019, amid the White House's decision to impose higher tariffs on China goods.
The Dow Jones Industrial Average fell 64 points, or 0.3%, at 25,753, the S&P 500 index declined 0.3% at 2,861, while the Nasdaq Composite Index declined 0.4% at 7,882. For the week, the Dow and S&P 500 are set for losses of around 2.6% and the Nasdaq is down 3.1%, as of Thursday's close, representing the benchmarks worst weekly declines since December.
The Trump administration allowed the levy on $200 billion of Chinese goods to rise to 25% from 10%, and Beijing has threatened to retaliate even as negotiators from both parties gather in Washington to attempt to resolve intensifying problems. Meanwhile, investors awaited the public debut of ride-hailing giant Uber Technologies Inc. which was set to kick off trade Friday morning, after pricing at $45 late Thursday. On the economic front, consumer prices rose by 0.3% in April, below the 0.4% level expected by economists, according to a MarketWatch survey of economists.
Source : Marketwatch