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Stocks Slip After Chinese Delegation Leaves

Dow drops 105 points, Nasdaq 56
By Newser Editors and Wire Services
Posted Sep 20, 2019 3:38 PM CDT
Gordon Charlop, center, and Christian Bader work at the New York Stock Exchange.   (AP Photo/Mark Lennihan, File)

(Newser) – Stocks veered lower on Wall Street in afternoon trading Friday after reports that a Chinese delegation has cut short a visit to the US, fueled speculation that upcoming talks aimed at resolving the costly trade war between Washington and Beijing are in trouble. The selling, which erased modest early gains for the market, had the S&P 500 index on track to end a streak of three straight weekly gains. The S&P 500 was down 10 points, or 0.3%, to 2,996 as of 3:37pm. The Dow Jones industrials fell 105 points, or 0.4%, to 26,988. The index was briefly down 168 points. The Nasdaq lost 56 points, or 0.7%, to 8,126, weighed down by declining technology sector stocks. The Russell 2000 index of smaller company stocks slid 1 point, or 0.1%, to 1,559. Financial stocks veered lower as bond yields declined. The yield on the 10-year Treasury fell to 1.73% from 1.77% late Thursday. Bond yields, which can affect interest rates on mortgages and other consumer loans, had been steadily sliding all week. American Express fell 0.8%. Technology and communications companies fell broadly Friday. Microsoft dropped 1.3% and Netflix 6%. (Read more stock market stories.)

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