US stocks open lower on concerns over US-China tensions

The major US stock indices fell on Friday, as the tensions between the US and China continued to escalate.

The US has ordered China to close its consulate in Houston, citing efforts to protect American intellectual and technological property.

In response, the Chinese government ordered the US to close its consulate in Chengdu, and it revoked its license in the country.

This escalated the tensions between the world's two largest economies, in terms of a trade war (tariffs), intellectual property rights or in terms of the South China Sea dispute, and maybe chief among these is the coronavirus crisis.

As for stocks, Dow Jones fell 0.3% or 93 points to 26,559 as of 14:01 GMT, Nasdaq fell 1.5% or 160 points to 10,301, and S&P 500 rose 0.7% or 22 points to 3,213.