Wall Street's main indexes extended declines on Thursday after a report tha...
- Wall Street’s main indexes extended declines on Thursday after a report that the United States was unlikely to extend a temporary waiver over Huawei’s blacklisting, adding to worries related to an inquiry into the impeachment of President Donald Trump.
Technology stocks .SPLRCT dropped 0.48% after Bloomberg’s report on China’s Huawei Technologies Co Ltd. The Philadelphia semiconductor index .SOX, which includes a number of companies that supply to the Chinese telecom equipment maker, fell 0.73%. “I don’t see this necessarily as a market issue unless you consider the fact that if the Chinese see that Trump’s strength in office is somewhat threatened, then perhaps they will be more emboldened to try to postpone any trade negotiations until after elections,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
The defensive consumer staples .SPLRCS, utilities .SPLRCU and real estate .SPLRCR were the only gainers.
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