The Stock Exchanges in New York Opened with Losses on Friday
The stock exchanges in New York opened with losses on Friday. Wall Street is still under the spell of trade talks between the United States and China.
The US raised import tariffs on Chinese products last night. China has already announced that it will take countermeasures, but in the meantime negotiations on a deal are continuing.
Shortly after the opening bell, the Dow-Jones index was down 0.4 percent on 25,710 points. The broader S&P 500 also yielded 0.4 percent, to 2859 points, and the Nasdaq technology grant dropped the same percentage to 7,881 points.
Trump said in a new series of tweets on Friday that import levies yield more money than even the best trade deal. He said that as far as he is concerned, there is no rush to make a trade deal. He again blamed China for the failure of a previous round of negotiations.
A few companies also came up with quarterly figures. Telecom and media company Viacom was lowered by 0.4 percent. Software company Symantec fell nearly 17 percent after disappointing earnings figures and a less positive forecast. CEO Greg Clark also leaves the maker of antivirus software.
Friday is also the market debut of Uber Technologies. The technology company behind taxi app Uber is signing for the largest IPO of a technology company in New York since 2014 when the Chinese web store giant Alibaba raised 25 billion dollars from investors.
With its expected yield of around $ 8.1 billion, Uber probably reaches the top ten largest IPOs ever in the US. Alibaba is one. At the start of the trade, an opening price was not immediately available.