Stocks slide amid trade worries, Qualcomm leads tech lower

President Donald Trump takes part in a welcoming ceremony with China's President Xi Jinping on November 9, 2017 in Beijing, China.Qualcomm shares fell 10.9% — their biggest one-day drop since Jan. 23, 2017 — after a U.S. judge ruled the chipmaker violated antitrust law by unlawfully suppressing competition in the cellphone chip space. The news dragged down the VanEck Vectors Semiconductor ETF down by 1.9%.The U.S.

Retailers were also under pressure after the release of quarterly results from companies in the sector. Lowe's fell 11.9% on weaker-than-expected earnings. Nordstrom, meanwhile, dropped 9.3% as its quarterly earnings and revenue missed expectations. Target was the bright spot among retailers. The company's stock rose more than 9% as its earnings and revenue topped analyst expectations. Same-store sales, a key metric for retailers, also surpassed estimates.

Investors also digested the minutes from the Federal Reserve's May 1 meeting. The minutes indicated the central bank will not make any moves regarding rates "Ahead of the minutes' release, St. Louis Fed President James Bullard, a voting member of the central bank's policymaking committee, said the Fed may have raised rates too much last year. "Rates are at a good place in the U.S. right now, if anything we are a little restrictive I would say," he told Bloomberg News.

"Futures are pricing in a cut in 2019 and two in 2020. Right now, we're not seeing that unless we see things deteriorate further," said Jeff Zipper, managing director of investments at U.S. Bank Wealth Management. "There's certainly a concern of a slowdown, though not necessarily of a recession."

. Great news for the 1%, what about the small guys? Trumpbabies TrumpBabies TrumpBabies TrumpBabies TrumpBabies TrumpBabies Trumpbabies TrumpBabies TrumpBabies Trumpbabies TrumpBabies TrumpBabies TrumpBabies TrumpBabies

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks edge higher; Dow lifted by upbeat earnings from Cisco WalmartU.S. stocks trade modestly higher Thursday, with the Dow Jones Industrial Average lifted following upbeat earnings reports from two components.
Source: MarketWatch - 🏆 3. / 97 Read more »

Dow momentarily turns positive for the week as stocks stage rebound in turbulent trading stretchThe Dow Jones Industrial Average rallied midday Thursday, momentarily pushing the blue-chip index into positive territory for the week, amid a rocky,... command economy manipulation is definately a good thing
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks in Asia set to rise following overnight Dow bounceShares in Asia were poised to rise at the open on Friday following overnight gains on Wall Street as investors stateside cheered strong earnings and economic data. Keep watching what's happening during 2019
Source: CNBC - 🏆 12. / 72 Read more »

Global stocks gain as U.S. eases Huawei restrictionsStocks markets gained on Tuesday, with chipmakers and stocks exposed to Asia amo...
Source: Reuters - 🏆 2. / 97 Read more »

Asia stocks grapple with trade anxiety even as Huawei gets reprieveAsian stocks struggled for traction on Wednesday, as relief over Washington&039... Huawei is in another business when the phone business failed.
Source: Reuters - 🏆 2. / 97 Read more »

Stocks making the biggest moves after hours: Agios, Farfetch, Cisco and moreSee which stocks are posting big moves after the bell on Wednesday, May 15.
Source: CNBC - 🏆 12. / 72 Read more »

Stocks end lower as trade tensions continue, post weekly lossStocks ended lower Friday, with major benchmarks logging weekly losses, as worries remained over U.S.-China trade tensions. The S&P 500 fell 0.6% to end...
Source: MarketWatch - 🏆 3. / 97 Read more »

European stocks set to open lower as trade fears lingerEuropean stocks are set to open lower Friday as markets monitor the trade war, amid the U.S. administration's bid to blacklist Chinese telecoms giant Huawei and the ruling Chinese Communist Party's newspaper striking a defiant tone. if you check 3d graph they all seem to be moving higher. Open might be lower but we probably bounce. happy_friday
Source: CNBC - 🏆 12. / 72 Read more »