Market Snapshot: Stocks close lower as tech takes brunt of trade tensions [MarketWatch]
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Source: MarketWatch
Stocks close lower as tech takes brunt of trade tensions U.S. stocks closed lower Monday as souring U.S.-China trade relations continued to weigh on sentiment, with technology shares taking the brunt of the selling pressure. A uniform decline in blue-chip tech names such as Apple Inc., Intel Corp. and Cisco Systems Inc. highlighted the vulnerability of some of the market’s most valuable companies to the adverse impact of the prolonged trade fight. The Dow Jones Industrial Average DJIA, -0.33% fell 84.10 points, or 0.3%, to 25,679.90, the S&P 500 index SPX, -0.67% declined 19.30 points, or 0.7%, to 2,840.23, while the Nasdaq Composite Index COMP, -1.46% dropped 113.91 points, or 1.5%, to 7,702.38. Sino-U.S. trade tensions continued to escalate, with shares of chip makers taking it on the chin as U.S. technology companies have begun to comply with the White House’s ban on China’s Huawei Technologies Inc. Bloomberg News reported Sunday that Xilinx XLNX, -3.56% XLNX, -3.56%
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