US stocks open lower on Huawei ban

2019-08-09 17:30:42 GMT (Economies.com)
US stocks open lower on Huawei ban

US stock opened lower today on the renewed concerns about the trade war and the US ban Huawei's business in the country.

 

President Trump said that he is not ready to reach an agreement with China yet, stating that US companies will not deal with Huawei.

 

Trump has described Huawei as a danger to his country national security and used the Chinese company in the trade war with Beijing.

 

Which comes after China ordered its state-owned companies to suspend purchasing any US agricultural goods, which markets interpreted as a response to Trump's new tariffs.

 

Data showed today that the US producer price index rose by 0.2% in July.

 

By 14:46 GMT, Dow Jones fell by 0.8% or 220 points to 26,158, Nasdaq fell by 1.2% (96 points) to 7,942, while S&P 500 shed 0.9% (28 points) to 2,909 points.

 
 
 
  Symbol Last Change Chg.%
1.1091
-0.0102
0.9113%
1.2147
0.0087
0.7243%
17.104
0.128
0.753%
54.800
0.550
1.014%
58.65
0.42
0.72%
1512.265
14.840
0.991%
 
 
US
 
Europe
 
Asia