Wall Street closes lower on trade war fears
US indices registered sharp declines yesterday, after US Trade Representative Robert Lighthizer told the press that new tariffs will be imposed on Chinese imports this Friday, reigniting fears of a US-China trade war. The DJ30, SPX500 and NSDQ100 all closed more than 1.6% lower, and companies that are dependent on Chinese imports, such as Apple and NVIDIA, registered significant declines.
Today’s highlights: Trade war fears impact global markets
- Crypto market shows correction: After showing impressive gains in the previous session, the crypto market was seen lower over the past 24 hours, as all top 10 cryptos were in the red at the time of writing. Bitcoin was down around 1%, drifting away from the $6,000 mark. The largest drop was seen in Binance Coin BNB, which fell more than 5%. BNB’s parent company, crypto exchange Binance, yesterday reported a $40 million hack, information that might have acted as a catalyst to the recent downturn.
- Lyft falls after-hours: The ridesharing company, which went public last March, yesterday released its first earnings report as a public company. The report showed a large loss for the company, causing its stock to drop more than 2.8% after-hours.
Stocks earnings releases on 08/05/2019
Stocks earnings releases on 09/05/2019
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
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08/05/2019 appeared first on eToro.