The Journal Gazette
Friday, June 14, 2019 2:20 pm

Stocks fall on fresh concerns about trade

Associated Press

Stocks are finishing lower Friday amid more concerns about the business effect of the U.S.-China trade dispute.

Technology shares dropped after chipmaker Broadcom reduced its 2019 revenue forecast by $2 billion, citing U.S. restrictions on sales to Chinese technology firms and hesitation among customers to place new orders.

Broadcom shares fell 5.6%. Other chipmakers dropped as well. Texas Instruments fell 3.5%.

Energy stocks dropped a day after leading the market higher.

The S&P 500 index dropped 4 points, or 0.2%, to 2,886. The Dow Jones Industrial Average slipped 17 points, or 0.1%, to 26,089. The Nasdaq fell 40 points, or 0.5%, to 7,796.

Despite a choppy week of trading, the major indexes are all up more than 4% for the month of June.

Sign up for our daily headlines newsletter

Top headlines are sent daily