US stocks open lower as tech sector tumbles

2019-05-20 16:26:45 GMT (Economies.com)
US stocks open lower as tech sector tumbles

US stocks fell in the first session of the week, weighed down by pressure on the technology sector following Google's decision to suspend some business with Huawei.

 

Google announced today that it intends to pull Huawei's Android license, which will affect millions of users of the Chinese company's devices.

 

This comes in compliance with the decision of President Donald Trump administration to ban US companies from installing Huawei's technology and equipment, to the company's risks on the national security and accusations of spying.

 

Huawei responded that it will continue to support its mobile and tablet users around the world, noting that it will provide a secure system, adding that the company contributed to the increased use of Android around the world.

 

In terms of trading, Dow Jones fell by 0.2% (equivalent to 57 points) to 25,707 points, Nasdaq fell 1.2% (92 points) to 7,724 points, while Standard& Poors'  fell by 0.3% (10 points) to 2,849 points.

 
 
 
  Symbol Last Change Chg.%
1.1215
-0.0003
0.0254%
1.2631
0.0048
0.3783%
14.975
0.107
0.720%
53.651
1.141
2.174%
61.95
-0.16
0.26%
1345.880
4.600
0.343%
 
 
US
 
Europe
 
Asia