Investors awaited quarterly reports from a host of companies to gauge the impact of an escalating trade conflict between the US and China
U. S. stock indexes dipped on Monday, led by losses in shares of Amazon and technology companies, as investors awaited quarterly reports from a host of marquee names to gauge the impact of an escalating trade conflict between the United States and China.
Amazon.com slipped 1.4 percent and was the biggest drag on the benchmark S&P 500 and the Nasdaq after U. S. President Donald Trump renewed his attacks on the online giant.
The S&P information technology sector fell 0.55 percent. Apple was down 0.83 percent, while Google-parent Alphabet dipped 0.4 ahead of results after markets close.
A drop in shares of chipmakers such as Intel, Nvidia, Micron also pressured the index, the biggest decliners among the 11 main S&P sectors.
Investors are also worried that the U. S.-Sino trade war could spill over to the currency markets. Trump has criticized the dollar’s strength, while accusing China of manipulating the yuan, which Beijing has denied.
„We have a whole plate of issues for investors to deal with, including currency manipulation, which is going to tie into the trade war,“ said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey.
