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© Reuters.
Investing.com – Wall Street is down on Thursday because of weak numbers Morgan Stanley (NYSE 🙂 and concerns over US-China trade relations weighed on investors.
The fall of 8 points, or 0.33%, at 9:30 ET (14:30 GMT), while the decline of 113 points, or 0.47%, and heavy techno lost 22 points, or 0.32%.
US lawmakers on Wednesday introduced legislation banning the sale of US chips to Huawei and other Chinese companies that violate US sanctions or export control laws. Investors fear that the news will compromise trade negotiations between the two largest economies in the world.
Morgan Stanley tumbled 4% after posting fourth quarter earnings, due to volatile markets.
The chip makers were also down, while Taiwan Semiconductor Manufacturing Co (TSMC) was forecasting the largest drop in its quarterly turnover for a decade. His Apple client (NASDAQ 🙂 fell 0.6%, fearing a drop in demand for smartphones. Advanced Micro Devices (NASDAQ 🙂 fell 3.3% and Micron (NASDAQ 🙂 fell 2.5%.
Netflix (NASDAQ 🙂 lost 0.5% more than its quarterly results after the closing bell. The streaming site has increased subscription rates in the US earlier this week and is expected to see an increase in subscribers.
Elsewhere, Pacific Gas & Electric (NYSE 🙂 continued to be volatile, up 16.5%, while Boeing (NYSE 🙂 was up 0.3%.
In commodities, it fell 0.2% to $ 1,290.95 an ounce and declined 1.3% to $ 51.62 a barrel. The, which measures the greenback versus a basket of six major currencies, rose 0.09% to 95.76.
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