Mid-Day Update: Wall Street Sinks Further Amid Lingering Trade War Concerns, Tech Rout



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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:

US MARKETS

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

GLOBAL SENTIMENT

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

UPSIDE MOVERS

(+) AKER (+74.80%) Mulls potential business combinations in Cannabis-related industries

(+) VOD (+1.6%) Report says Bharti Infratel emerges as potential buyer of Vodafone Ideas’ fiber assets

(+) REN (+16.6%) Agrees to $1.6 billion takeover by Cimarex

DOWNSIDE MOVERS

(-) JD (-3.6%) Posts Q3 adjusted earnings beat, shy on revenues

(-) FB (-5.6%) Pivotal Research says Facebook could see more negative press, congressional hearings over business practices

(-) PCG (-6.7%) Files an additional initial electric incident report with California regulators


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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