Markets Right Now: Stocks open lower on Wall Street
NEW YORK (AP) — The latest on developments in financial markets (all times local):
Stocks are opening broadly lower on Wall Street as traders are disappointed that the U.S. and China failed to reach a deal on trade before Friday’s tariff deadline.
Technology and industrial stocks, which would stand to lose the most in a drawn-out trade conflict, had some of the biggest losses Friday.
Western Digital lost 1% and Deere & Co. also lost 1%
The U.S. raised tariffs on $200 billion worth of Chinese goods early Friday after no deal was reached, and President Donald Trump said there was no need to rush the talks with China.
The S&P 500 index fell 9 points, or 0.4%, to 2,860.
The Dow Jones Industrial Average lost 100 points, or 0.4%, to 25,724. The Nasdaq fell 31 points, or 0.4%, to 7,879.