LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street slips as internet stocks, Nike weigh

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Sep 04, 2018
09:45 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

U.S. stocks were lower on Tuesday, with declines in Facebook, internet stocks and Nike leading to a bumpy start to September, as investors also grappled with rising trade uncertainties.

Facebook fell 2.5 percent after brokerage MoffettNathanson downgraded the social media giant to "neutral", citing revenue growth deceleration.

Other internet stocks Alphabet, Twitter, Snap fell between 1 percent and 2.4 percent, while the S&P technology index dropped 0.3 percent.

Nike dropped 2.7 percent as the company faced backlash over its choice of Colin Kaepernick, the first NFL player to kneel during the national anthem as a protest against racism, as a face for the 30th anniversary of its "Just Do It" slogan.

The losses came after a strong August for the main U.S. indexes despite rising concerns over trade.

"Since August was a good month for stocks, we are seeing some profit-taking and the headlines on China negotiations seem to be weighing a little bit as well," said Sean O`Hara, president of Pacer ETFs in Paoli, Pennsylvania.

Helping curb losses was Amazon.com, whose shares rose 1.8 percent in their seventh straight day of gains, hitting yet another record and joining Apple in the $1 trillion market cap club.

The public comment period on a U.S. proposal for new tariffs on Chinese goods is set to end on Sept. 5, after which U.S. President Donald Trump can follow through on plans to impose levies on $200 billion more of Chinese imports, though it is unclear how quickly that will happen.

Talks between Canada and the United States to renegotiate the North American Free Trade Agreement (NAFTA) ended on a sour note on Friday, but officials set plans to resume their talks on Wednesday.

At 11:35 a.m. ET the Dow Jones Industrial Average was down 63.75 points, or 0.25 percent, at 25,901.07, the S&P 500 was down 6.52 points, or 0.22 percent, at 2,895.00 and the Nasdaq Composite was down 19.93 points, or 0.25 percent, at 8,089.61.

"This is not an enormous move, seems like day-to-day volatility for September," O`Hara said.

The indexes pared losses after data from the Institute for Supply Management showed U.S. manufacturing activity accelerated to more than a 14-year high in August, boosted by a surge in new orders.

Six of the 11 major S&P 500 sectors were lower, led by a 1.12 percent drop in the telecom sector.

Verizon fell 2 percent after Barclays downgraded the wireless carrier`s stock.

Advanced Micro Devices gained 7.6 percent and Qualcomm was up 2.6 percent after brokerages upgraded the chip stocks.

Declining issues outnumbered advancers for a 2.01-to-1 ratio on the NYSE and a 1.85-to-1 ratio on the Nasdaq.

The S&P index recorded 45 new 52-week highs and seven new lows, while the Nasdaq recorded 114 new highs and 38 new lows.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

7th Pay Commission: Central Government Employees' Dearness Allowance (DA) to become 25 pct from April 2021?

West Bengal, Assam Assembly elections 2021: After TMC, BJP likely to release candidates lists today

NEET 2021 exam: Check here the latest update on dates and all you need to know for registration before appearing in the test

Solid Fuel Ducted Ramjet successful flight test : How it gives technological edge to DRDO and boosts its long range air-to-air missiles capabilities—EXPLAINED

Gold Price Outlook – Gold, Silver prices may see further fall next week; expert tells what to do to maximise gains

PPF Calculator: You can double Public Provident Fund income and save income tax outgo - you will need this help

EaseMyTrip IPO Review: Issue opens on Monday! 'SUBSCRIBE' say experts; check details like important dates, price band, lot size, many more

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

EPF Passbook Balance Check Online: EPFO members can do this via Umang App, SMS, missed call; choose whatever you want

Ethanol from sugar will lower dependency on Crude import, create jobs and improve earnings of farmers

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved