Dow Slides 130 Points Ahead of Memorial Day Weekend as Investors Watch China-U.S. Tensions
Friday, 22 May 2020 23:36 WIB | MARKET UPDATE |DOW JONESS & P 500SahamAS

U.S. stock benchmarks traded lower early Friday as investors looked ahead to a three-day weekend.

Equity indexes will look to defend their sharp weekly gains amid rising Sino-American tensions and a holiday that could test the bounds of business reopening efforts after coronavirus lockdowns in much of the country.

The Dow Jones Industrial Average fell 130 points, or 0.5%, at 24,343, weighed by shares of Caterpillar Inc. and Boeing Co Meanwhile, the S&P 500 index gave up 12 points, or 0.4%, at 2,936. The Nasdaq Composite traded 0.3% lower at around 9,255, a decline of 28 points.

Meanwhile, the Russell 2000 index, representing smaller-capitalization companies, declined 0.6%, relinquishing an earlier gain.

For the week, the Dow has climbed 2.8%, the S&P 500 has returned 2.6% and the Nasdaq Composite has risen 2.8%. The Russell 2000 is on pace for a 6.6% weekly rise.

Source : Marketwatch

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