Markets Right Now: Stocks fall on fresh concerns about trade

Posted on Friday, June 14th, 2019 By The Associated Press

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4:00 p.m.

Stocks are finishing lower Friday amid more concerns about the business impact of the U.S.-China trade dispute.

Technology shares dropped after chipmaker Broadcom reduced its 2019 revenue forecast by $2 billion, citing U.S. restrictions on sales to Chinese technology firms and hesitation among customers to place new orders.

Broadcom shares fell 5.6%. Other chipmakers dropped as well. Texas Instruments fell 3.5%.

Energy stocks dropped a day after leading the market higher.

The S&P 500 index dropped 4 points, or 0.2%, to 2,886.

The Dow Jones Industrial Average slipped 17 points, or 0.1%, to 26,089. The Nasdaq fell 40 points, or 0.5%, to 7,796.

Despite a choppy week of trading, the major indexes are all up more than 4% for the month of June.

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11:55 a.m.

Stocks are falling at midday Friday amid more concerns about the business impact of the U.S.-China trade dispute.

Technology shares dropped after chip maker Broadcom reduced its 2019 revenue forecast by $2 billion, saying customers are trimming orders because of the trade tensions, including U.S. curbs on sales to Chinese telecom company Huawei.

Broadcom shares fell 6.7%. Other chipmakers dropped as well. Advanced Micro Devices fell 3.7%.

Energy stocks dropped a day after leading the market higher.

The S&P 500 index dropped 8 points, or 0.3%, to 2,883.

The Dow Jones Industrial Average slipped 43 points, or 0.2%, to 26,063. The Nasdaq fell 45 points, or 0.6%, to 7,791.

Despite a choppy week of trading, the major indexes are all up more than 4% for the month of June.

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9:35 a.m.

Stocks are falling early Friday on signs the trade war between the U.S. and China is putting the squeeze on the semiconductor industry.

Technology shares dropped after chip maker Broadcom reduced its 2019 revenue forecast by $2 billion, saying customers are trimming orders because of the trade tensions, including U.S. curbs on sales to Chinese telecom company Huawei.

Broadcom shares fell 7.2%.

The S&P 500 index dropped 9 points, or 0.3%, to 2,882.

The Dow Jones Industrial Average slipped 93 points, or 0.4%, to 26,013. The Nasdaq fell 48 points, or 0.6%, to 7,788.

Despite a choppy week of trading, the major indexes are holding on to gains of close to 5% for the month of June.

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