Mid-Day Update: Wall Street Sinks Further Amid Lingering Trade War Concerns, Tech Rout
US stocks dropped further around midday on Monday amid lingering trade war concerns and weakness in the technology sector.
In economic news, the November National Association of Home Builders housing market index fell 8 points to 60 after rising 1 point to 68 in October.
In Europe, equities were lower amid an unfolding scandal in the auto sector and uncertainty surrounding the UK’s future relationship with the European Union.
Crude oil is down 0.32% to $56.28 per barrel. Natural gas is up 10.98% to $4.757 per 1 million BTU. Gold is up 0.02% to $1,223.00 an ounce, while silver is down 0.22% to $14.35 an ounce. Copper is down 0.30 to $2.8015 per pound.
Among energy ETFs, the United States Oil Fund is down 0.66% to $12.00 with the United States Natural Gas Fund ( UNG ) is up 8.89% to $38.62. Among precious-metal funds, the VanEck Vectors Gold Miners ETF is up 0.49% to $19.48 while SPDR Gold Shares is down 0.08% to $115.53. The iShares Silver Trust is up 0.07% to $13.54.
Here’s where the markets stand at mid-day:
NYSE Composite Index is down 1.04% to 12,271.08
Dow Jones Industrial Index is down 1.67% to 24,988.85
S&P 500 is down 1.65% to 2,690.99
Nasdaq Composite Index is down 2.57% to 7,061.79
FTSE 100 is down 0.19% to 7,000.89
DAX is down 0.85% to 11,244.54
CAC 40 is down 0.79% to 4,985.54
Nikkei 225 is is up 0.65% to 21,821.16
Hang Seng Index is up 0.72% to 26,372.00
Shanghai China Composite Index is up 0.91% to 2,705.51
NYSE SECTOR INDICES
NYSE Energy Sector Index is down 0.84% to 10,647.60
NYSE Financial Sector Index is down 0.88% to 7,600.67
NYSE Healthcare Sector Index is down 1.01% to 15,917.34
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