Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — The latest on developments in financial markets (all times local):
4 p.m.
U.S. stocks are closing lower as investors sold car makers and technology companies on fears the growing U.S.-China trade dispute will hurt earnings.
General Motors lost 2 percent and Tesla fell 4.1 percent Thursday after German automaker Daimler lowered its profit forecast, partly because of planned Chinese tariffs on cars imported from the U.S.
Industrial companies like Boeing and Caterpillar also fell.
Online retailers fell after the Supreme Court ruled that states can force more online shoppers to pay sales tax. Overstock.com skidded 7.2 percent.
The Dow Jones industrials fell for the eighth day in a row. It lost 196 points, or 0.8 percent, to 24,461.
The S&P 500 index lost 17 points, or 0.6 percent, at 2,749 and the Nasdaq composite dropped 68 points, or 0.9 percent, to 7,712.
____
12:00 p.m.
U.S. stocks are closing lower for the eighth-straight day as investors sold car makers and technology companies on fears the growing U.S.-China trade dispute will hurt earnings.
General Motors lost 2 percent and Tesla fell 4.1 percent Thursday after German automaker Daimler lowered its profit forecast, partly because of Chinese tariffs on cars imported from the U.S.
Industrial companies like Boeing and Caterpillar also fell.
After the Supreme Court ruled that states can force more online shoppers to pay sales tax, Overstock.com fell 7.2 percent while Target gained 1 percent.
The Dow Jones industrials fell 196 points, or 0.8 percent, to 24,461.
The S&P 500 index lost 17 points, or 0.6 percent, at 2,749 and the Nasdaq composite dropped 68 points, or 0.9 percent, to 7,712.
___
9:35 a.m.
U.S. stocks are opening lower as energy companies fall with oil prices and industrial companies slip as investors focus on the U.S.-China trade dispute.
Boeing and Caterpillar both fell 1.3 percent Thursday after China criticized the Trump administration's threat to place taxes on hundreds of billions of dollars in imports.
Intel lost 1 percent after the company said its CEO resigned after it learned he had a relationship with an employee. It described the relationship as consensual.
The Dow Jones industrials fell 81 points, or 0.3 percent, to 24,577. The Dow has dropped for seven straight days.
The S&P 500 index lost 3 points, or 0.1 percent, at 2,763 and the Nasdaq composite added 5 points to 7,785.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
