US stocks plummet in morning trade, due to US trade concerns

Energy companies contributed to a slight decline in US equities on Monday morning, which contributed to losses suffered by the market last week. Retailers and other consumer-oriented companies also fell, outpacing gains in technology stocks. Investor nervousness in the face of escalating global trade tensions and weak economic data from Asia have weighed on the market. Oil prices fell

NOTE: The S & P 500 index fell 7 points, or 0.3%, to 2710 points at 11:29 am Eastern time. The Dow Jones Industrial Average slipped 90 points or 0.4% to 24.180. The Nasdaq lost 10 points, or 0.1%, to 7,500 points. The Russell 2000 index of shares of smaller companies yielded 2 points, or 0.1%, to 1640.

THE QUOTE: "You've seen some of the more price-sensitive stocks a little weaker at the opening, "said JJ Kinahan, chief markets strategist for TD Ameritrade. "These are all news articles."

DESPATCHERS: Investors continued to focus on escalating global trade tensions. The European Union warned the Trump administration on Monday that it could impose tariffs on US exports of $ 300 billion in retaliation for Trump's threatened tariffs on European cars. On Sunday, Canada began imposing tariffs on billions of dollars worth of US goods in response to the Trump administration 's rights to steel and aluminum in Canada. Meanwhile, the United States should impose a 25% tariff on Chinese products up to $ 50 billion from Friday. In response, China announced that it would increase its import rights of $ 34 billion worth of US goods.

ENERGY: Trump said this weekend that Saudi Arabia would increase its oil production by "perhaps up to 2,000,000 barrels". and Venezuela. This is higher than the increase of 1 million barrels a day over which the OPEC countries have agreed, leading to a decline in oil futures. The benchmark US crude dropped 42 cents to $ 73.73 a barrel in New York. Brent crude oil, used for international oil prices, fell $ 1.37, or 1.7%, to $ 77.86 in London.

The decline in oil prices weighed on stocks of 39; energy. Chevron lost 1.5 percent to $ 124.58.

RETAIL SLUMP: The shares of several chains of department stores have decreased. Nordstrom fell 3 percent to $ 50.21, while Macy lost 2.8 percent to $ 36.40. Kohl fell 2.3% to $ 71.20

ON TRACK: Tesla rose 1.3% to $ 347.50 after the electric car maker said it was reaching its goal of producing 5,000 of its Model 3 sedans cheaper at the end of June. 19659002] MARKET RELEASE: Dell's computer manufacturer's stock tracking rose 8.3% to $ 91.56 after announcing that it would return to public after five years as a company. private. Meanwhile, shares of VMWare jumped 7.4% to $ 157.84 according to speculation that Dell could buy the rest of the software company, which will also distribute a special dividend to shareholders.

RECOVERY DATA: Chinese manufacturing activity slowed in June as the economy cools due to tighter government controls over lending. Meanwhile, the Bank of Japan's "tankan" survey measuring confidence among major manufacturers was 21 points, down 3 from the March survey, which was the first decline in two years.

Resorts, which has several stations in Macao. The company was the biggest decline of the S & P 500, its shares having lost 7.7% to 154.46 US dollars

MEXICAN ELECTION: Mexican voters won a presidential election victory to Andres Manuel Lopez Obrador, him giving a broad mandate to reverse the trend. political establishment and governing for the poor. The widely anticipated result could complicate the Trump administration's attempt to negotiate a trade deal with Mexico.

PERFORMANCE OF BONDS: Bond prices have changed little. The 10-year Treasury yield remained at 2.86%

CURRENCIES: The dollar slipped to 110.79 yen against 110.88 yen on Friday. The euro has weakened to $ 1,1597 against $ 1,1669.

OVERSEAS MARKETS: The German DAX fell 0.3%, while the French CAC 40 lost 0.8%. The British FTSE 100 dropped 0.9%. Asian markets were overshadowed by weaker-than-expected Chinese manufacturing data and a softening of Japan's economic outlook. The Japanese benchmark Nikkei 225 plunged 2.2% and the South Korean Kospi tumbled 2.4%. The Australian S & P / ASX 200 lost 0.3%. Taiwan's benchmark index fell, but the Southeast Asian indices were mixed. Hong Kong's markets were closed for market holidays.