Wall Street drops; White House considers delisting Chinese companies

NEW YORK: U.S. stocks fell on Friday after reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges, raising worries about a further escalation in the U.S.-China trade war.

The tariff-sensitive Philadelphia semiconductor index extended its decline after the reports and ended down 2.4per cent on the day. The index was already under pressure from Micron Technology Inc's , which tumbled after it forecast a disappointing first-quarter profit. All three indexes ended lower for the week as well, with the S&P 500 and Nasdaq registering their biggest weekly percentage drops since August. The Cboe volatility index ended at a three-week high.

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