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Dow Ends Day Down 138

Stocks sink as tariff deadline approaches
By Newser Editors and Wire Services
Posted May 9, 2019 3:16 PM CDT
Traders Gregory Rowe and Benjamin Tuchman work on the floor of the New York Stock Exchange, Thursday, May 9, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks recovered much of an early swoon and ended moderately lower as a midnight deadline approached for the US and China to reach a trade deal, the AP reports. Negotiators met in Washington Thursday. If they don't reach a deal, the US has said it would raise its tariffs on $200 billion worth of Chinese goods as of 12:01am Friday. Technology companies fell the most. Intel lost 5.3%. The S&P 500 fell 8 points, or 0.3%, to 2,870. The index is headed for its biggest weekly loss of the year, and has given back all of the gains it made in April. The Dow Jones Industrial Average lost 138 points, or 0.5%, to 25,828. It was down almost 450 points earlier. The Nasdaq fell 32 points, or 0.4%, to 7,910. (Read more stock market stories.)

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