US stocks fell on Thursday, on the back of a drop in Amazon, after the US Supreme Court allowed US states to force retailers to collect sales tax. Amazon fell 0.7%, marking the biggest losing stock in both the S & P and Nasdaq.<\/p>\n
US automakers also fell, with Ford slipping 1.6%, General Motors (NYSE: GM) 2.5%, Caterpillar and Boeing, which are listed on the New York Stock Exchange and rely on China for a large portion of revenue, fell 2% and 1%, respectively. According to analysts, if US President Trump continues to escalate tensions with China over trade, Beijing could target some companies in the US Dow Jones index, which is a concern for market participants.<\/p>\n
The Dow Jones industrial average shed 175.91 points, or 0.71 percent, to 24,481. The Standard & Poor’s 500 Index was down 16.74 points, or 0.604 percent, to 2,750. The Nasdaq Composite Index fell 61.71 points, or 0.79 percent, at 7,719. Six of the 11 main sectors in S & P traded lower, with the energy sector dropping 1.2% as oil prices fell after OPEC appeared to be close to starting to increase production.<\/p>\n
Intel shares also fell 1.2 percent as CEO Brian Krzanich stepped down, after investigations revealed he had a relationship with a company employee, a violation of the company’s policy.<\/p>\n
Meanwhile, the New York-based Darden Restaurant saw a Gain of 11.4 percent, after the group reported better sales and profit in the fourth quarter than expected. Grocer Kroger rose 9.5% after raising the minimum forecast for full-year earnings and better-than-expected quarterly earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"
US stocks fell on Thursday, on the back of a drop in Amazon, after the US Supreme Court allowed US states to force retailers to collect sales tax. Amazon fell 0.7%, marking the biggest losing […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,4],"tags":[36,9,22,10,70,47,46,39],"_links":{"self":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/632"}],"collection":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/comments?post=632"}],"version-history":[{"count":1,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/632\/revisions"}],"predecessor-version":[{"id":634,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/posts\/632\/revisions\/634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media\/633"}],"wp:attachment":[{"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/media?parent=632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/categories?post=632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skyeconomynews.com\/wp-json\/wp\/v2\/tags?post=632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}