Inventories fall as technology beats

Thomson Reuters

Shares were down broadly on Wednesday as the Nasdaq Composite dropped by more than 1% as Congress polled Twitter and Facebook executives. The dollar fell and Treasury yields remained virtually unchanged.

Here is the dashboard:

Dow Jones Industrial Average: 25975.67 +23.19 (+ 0.089%)

S & P 500 2,886.87 -9.85 (-0.34%)

Nasdaq Composite: 7,995.17 -96.07 (-1.19%)

1. Twitter and Facebook leaders testified before Congress. In consecutive hearings of the House and Senate, legislators questioned Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey about political content and how companies are preparing to fight threats of foreign interference before deadlines. Audiences have lowered technology stocks.
2. The US trade deficit reached its highest level in five months. The gap with China has hit a record high, just before the Trump administration announces that it will promulgate additional tariffs on Chinese goods worth 200 billion US dollars. of dollars. The trade deficit has been the main source of frustration for President Donald Trump, who sees it as a sign of economic weakness.
3. NAFTA negotiations between the United States and Canada are going on forever. As part of the latest attempt to modernize the 1994 agreement, high-level trade officials met in Washington to discuss ongoing issues such as tariffs on metals and dairy products. Last week, Trump threatened to hit Canada with duties on car imports and exclude the country from a trade deal with Mexico.

And look at the next economic calendar:

• Employment and wages are in the United States and Canada.
• China publishes trade balance data.