(Corrects deadline in third bullet point to Sept. 6 from Sept. 5, corrects end date of public comment period to Sept 6 in paragraph 8.)
* Nike falls after boycott gains traction on social media
* Facebook drops after brokerage downgrade
* Deadline for U.S.-China tariff consultations on Sept. 6
* Amazon hits $1 trillion stock market value
* Indexes down: Dow 0.25 pct, S&P 500 0.22 pct, Nasdaq 0.25 pct
By Shreyashi Sanyal
Sept 4 (Reuters) – 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. 6, after which U.S. President