Catch up on the developing stories making headlines.Technology stocks were the biggest drag on the market. Many of the companies in that sector rely on China for sales and supply chains and can become very volatile with new developments in trade negotiations. Adobe fell 2.4% and Microsoft fell 1%.Banks were among the few winners as falling bond prices pushed bond yields higher. The yield on the 10-year Treasury rose to 1.85% from 1.77% on Friday.
KEEPING SCORE: The S&P 500 index fell 0.6% as of 10:05 a.m. Eastern time. The Dow Jones Industrial Average fell 137 points, or 0.5%, to 28,001. The Nasdaq fell 1.1%. The Russell 2000 index of smaller company stocks fell 0.7%. President Trump has expressed concern that the legislation could affect negotiations. Wall Street is hoping that the nations can make progress toward at least stalling new tariffs scheduled for Dec. 15 on $160 billion worth of Chinese products, including smartphones and laptops.
U.S. manufacturing shrank more than expected in November, according to figures released by the Institute for Supply Management on Monday. Manufacturing has been a weak spot in the broader economy. A separate report on the services sector, which makes up the bulk of the economy, is expected on Wednesday.
That won't last long and China can shove it up there...
SalonTrans Why U.S. support of protesters in Hong Kong means stocks fell? A deal with the Chinese would not be good for the US. Basically China is not good for the USA. Should we DrainTheSwamp because some people in Wall Street are doing something for China?
-232 isn't exactly news worthy.
After Thanksgiving weekend and on a Monday? These people know how much money we consumers just spent the past 4 days? 🙄