Wall Street slides amid trade uncertainty

Chipmakers, which rely on China for a large portion of their revenue also lost ground with the Philadelphia SE chip index off 0.6 per cent.

“The good news is mildly negative news on China trade doesn’t tip the apple cart over anymore,” said Art Hogan, chief market strategist at National Securities in New York.

“But breaking out of the next level of resistance has been a wall to get through. It shows we’re probably range-bound 2,750 to 2,800 until we get answers to China trade, Brexit etc.”

In the latest of a series of votes, British MPs voted overwhelmingly on Thursday to seek a delay in Britain’s exit from the European Union.

The Dow Jones Industrial Average rose 7.05 points, or 0.03 per cent, to 25,709.94, the S&P 500 lost 2.44 points, or 0.09 per cent, to 2,808.48 and the Nasdaq Composite dropped 12.50 points, or 0.16 per cent, to 7,630.91.

Boeing, the single largest US exporter to China, slipped 1.0 per cent.

The world’s largest planemaker had its own troubles this week after its money- spinning 737 MAX jets were grounded globally following a recent fatal crash in Ethiopia.

Facebook shares fell 1.8 per cent after the world’s largest social network suffered a major outage that frustrated users across the globe for about 24 hours. It said it had restored the service to its main app and Instagram.

After the bell, Facebook’s stock was down 1.9 per cent as chief executive officer Mark Zuckerberg said in a blog post that chief product officer Chris Cox will leave the social media network.

Among the day’s advancers, General Electric shares rose 2.8 per cent after Chief Executive Larry Culp set conservative profit targets for this year and vowed for a better 2020 and beyond.

Apple rose 1.1 per

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