The US markets UU They plummet from the trifecta of technological defeat, tariffs and a failure in manufacturing reports

Problems for technology companies began a defeat on Monday as markets were also shaken by growing fears of a trade war with China.

It was a big sell-off: the Dow Jones industrial average added more than 758 points on its low in the afternoon trading before recovering some of its losses. He finished the day with 459 points, or 1.9 percent. The Standard & Poor & # 39; s stock index dropped 2.23 percent and the Nasdaq Composite technology compound fell 2.74 percent as volatility continues to affect markets.

The three indices are negative for the year. The Dow and the S & P 500 are in correction territory. A correction is generally considered a 10 percent drop from its peak. The price of gold and silver, both considered flights to safety, rose on Monday.

Ten of the 11 stock markets closed in correction territory on Monday. The Chinese government said on Sunday it would immediately impose tariffs on 128 US products that it imports in retaliation for President Trump's steel and aluminum taxes.

. The tax on the goods of EE. UU It could include pork, soy and fruit, as well as airplanes.

[Trade war escalates as China says it will impose tariffs on 128 U.S. exports, including pork and fruit ]

Fears of an impending trade war have shaken markets since Trump announced tariffs of 25 percent on steel and 10 percent on aluminum imported by the United States.

"There are three things: technological stocks, commercial concerns and economic growth figures are slowing down," said James Norman, head of equity strategy at QS Investors. "Technology has been one of the areas with the best results in the market and has boosted a large part of the returns in 2017 and the first month of 2018. With stretched valuations, investors worry that they will overpay for potential growth" .

Two manufacturers indexes that reported on Monday showed that economic growth may be slowing. The manufacturing index of the Institute for Supply Management and the Purchasing Managers Index for manufacturing did not meet expectations, which added chills to the market.

In a Monday note to clients, Jason Pride, director of private client investments at Glenmede Wealth Management, cited a festering trade war fears as a driver of market volatility.

"The Trump administration's announcements on trade sanctions in total so far comprise a relatively small portion of the total trade of the United States," according to the Pride note. "However, this could only be the beginning, since the Trump administration considers the extension of new sanctions to the Chinese commercial relationship."

The Dow's big laggards include Intel, Cisco, 3M, Nike and Microsoft, as well as retail giants Home Depot and Walmart.

Shares of sportswear firm Nike fell nearly 3.5 percent after a weekend story in the Wall Street Journal that, citing current and former employees, described labor culture issues that have persisted for years. An executive who was widely expected to be the next chief executive had resigned and left the company in August, according to a March memorandum from the current CEO.

The problems for technology companies are an important factor that causes stocks to go down. The markets were hampered on Monday by President Trump's Twitter badault on Amazon.com, in which he knocked out retailers' relationship with the US Postal Service. UU Shares of the retail giant fell 5.2 percent.

"I guess that while there is uncertainty around world trade, markets will be on the edge," said Charlie Ripley, investment strategist at Allianz Investment Management. "A lot of this today is being driven by technology, Trump had some unfavorable comments about Amazon and the Post Office, and that is helping to reduce the technology sector."

[When the president tanks your stock portfolio ]

The shares of the computer chip giant Intel were on their way to one of their worst days in years in a Bloomberg report that Apple can take its chip manufacturing internally.

The shares of Tesla's beloved Silicon Valley lost 5.1 percent after questions about its self-monitoring technology system known as autopilot. The company said on Friday, after the markets closed, that a recent fatal accident involving one of its cars involved an activated autopilot. In an unusual move, the National Transportation Safety Board investigating the accident publicly said on Sunday that it was not "happy" with Tesla's public discussion of the accident.

Also on Sunday, the founder and CEO of Tesla took Twitter to play a joke on April Fool's Day, joking that "Telsa has declared itself totally and totally bankrupt". The value of Tesla shares fell 18 percent in the last five trading days. [19659018] The Nasdaq is about to lose all of its earnings by 2018. That is a surprising reversal for the technology industry, which spearheaded much of the bull market gains of almost 10 years. In the last five years, the value of Amazon shares rose 424 percent, Apple grew 172 percent, Facebook 509 percent and Tesla 475 percent.

Facebook was harshly criticized by lawmakers last month in the United States and Britain. Questions about whether you allowed third-party developers to access user data without your permission, a possible violation of your privacy agreement with the US government. UU

Facebook is also on a tiff with rival giant Apple. Facebook chief executive Mark Zuckerberg over the weekend responded to Apple CEO Tim Cook, criticizing the social media company's data crisis. The scandal involved a third company, Cambridge Analytica, which collected personal data from 50 million Facebook users.

Cook criticized Zuckerberg during an interview last week when he was asked what he would do if he were the head of Facebook. [19659022] "I would not be in this situation," Cook said, adding that "we care about the user's experience, and we're not going to traffic in his personal life."

Zuckerberg responded in an interview with Vox, appearing to criticize Apple's business model based on "caring for rich people".

[Trump keeps up Twitter badault on Amazon, this time criticizing its U.S. Postal Service contract ]

"If you want to build a service that helps connect everyone in the world, then there are many people who can not pay," Zuckerberg said, referring to Facebook. "And, therefore, as with many media, having a model supported by advertising is the only rational model that can help build this service to reach people … But if you want to build a service that not only serves to rich people, then you need to have something that people can afford. "

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