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The Journal Gazette

  • FILE - In this Oct. 25, 2016, file photo, a pedestrian walks past the New York Stock Exchange.  (AP Photo/Mary Altaffer, File)

Wednesday, July 11, 2018 10:00 am

Renewed tariff threats weighs on stocks

Associated Press

 

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

9:35 a.m.

Stocks are opening lower on Wall Street, following declines in Europe and Asia, after Washington threatened to expand tariffs on Beijing and China said it would retaliate.

Technology and industrial stocks, which would have much to lose if the U.S.-China trade dispute continues to escalate, fell more than the rest of the market.

Chipmaker Micron, which relies on China for half of its sales, sank 2.2 percent. Boeing fell 1.1 percent.

The declines follow a four-day winning streak for U.S. stocks.

The S&P 500 fell 12 points, or 0.4 percent, to 2,781.

The Dow Jones Industrial Average lost 138 points, or 0.6 percent, to 24,781. The Nasdaq composite gave up 32 points, or 0.4 percent, to 7,726.

Bond prices rose. The yield on the 10-year Treasury fell to 2.85 percent.