Wall Street drops; White House considers delisting Chinese companies | Malay Mail

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NEW YORK, Sept 28 — US stocks fell yesterday after reports that the Trump administration was considering delisting Chinese companies from US stock exchanges, raising worries about a further escalation in the US-China trade war. The move would be part of a broader effort to limit US investment in...

28 September 2019

The move would be part of a broader effort to limit US investment in Chinese companies, sources told Reuters. The tariff-sensitive Philadelphia semiconductor index extended its decline after the reports and ended down 2.4 per 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.

The Dow Jones Industrial Average fell 70.87 points, or 0.26 per cent, to 26,820.25, the S&P 500 lost 15.83 points, or 0.53 per cent, to 2,961.79 and the Nasdaq Composite dropped 91.03 points, or 1.13 per cent, to 7,939.63. Data early in the day showed US consumer spending barely rose in August, suggesting that the economy’s main growth engine was slowing after accelerating sharply in the second quarter.

 

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