As S&P 500 gets hammered on tariff fears — here are the key stock (and sector) movers
The S&P 500 on Tuesday was on track for its biggest one-day decline in about four months as investors reacted poorly to the prospect of escalating U.S.-China trade tensions. Check out: MarketWatch’s snapshot of the market On Monday, U.S. Trade Representative Robert Lighthizer said the U.S. was seeing “an erosion in commitments by China” in…
The S&P 500 on Tuesday was on track for its biggest one-day decline in about four months as investors reacted poorly to the prospect of escalating U.S.-China trade tensions.
Check out:MarketWatch’s snapshot of the market
On Monday, U.S. Trade Representative Robert Lighthizer said the U.S. was seeing “an erosion in commitments by China” in recent days and declared tariffs on Chinese imports would rise on Friday to 25% from 10%, reigniting fears that a clash on import duties between the world’s largest economies could hurt global economies. Lighthizer’s comments supported those made by President Donald Trump on Sunday and were viewed as an unexpected development for market participants hoping for a near-term resolution.
Although negotiations with Chinese officials in Washington, including Liu He, are set to take place this week, investors say the latest development on trade injects a fresh dose of uncertainty into the market.
Late afternoon Tuesday, the S&P 500
was on pace for its worst daily drop, off 2.2%, at last check, since a 2.5% decline on Jan. 3, with fewer than two dozen companies within the broad-market benchmark hanging in positive territory.
Here are the S&P 500 constituents that have spent time in the green thus far Tuesday:
|American International Group Inc.
|Henry Schein Inc.
|Everest Re Group Ltd.
|Newmont Goldcorp Corp.
|Jacobs Engineering Group Inc.
|Occidental Petroleum Corp.
|General Motors Co.
|NRG Energy Inc.
|Vulcan Materials Co.
|Lamb Weston Holdings Inc.
|Darden Restaurants Inc.
|Kinder Morgan Inc.
|Dentsply Sirona Inc.
|WEC Energy Group Inc.
|Source: FactSet data|
A few other companies,Ball Corp.
CME Group Inc.Class A shares
Williams Cos. Inc.
Cabot Oil & Gas Corp.
Xcel Energy Inc.
Western Union Co.
EOG Resources Inc.
were switching between modest gains and losses.
All 11 sectors of the S&P 500 were lower, led by declines in technology
off 2.6%, industrials
down 2.3% and health care
There are no components of the Dow Jones Industrial Average
in the green, with the index down more than 600 points at its lows:
Here are the companies dragging down the blue-chip benchmark by the most:
The technology-laden Nasdaq Composite Index
was down 2.3%, weighed by a slump in biotech shares, with the iShares Nasdaq Biotechnology ETF
a popular way to bet on the sector, down 2.9%.