ShareThis Page
U.S. stocks fall in morning trading, extending weekly losses | TribLIVE.com
U.S./World

U.S. stocks fall in morning trading, extending weekly losses

Associated Press
| Thursday, March 7, 2019 10:34 a.m
847528_web1_847528-982a7b6775b34bb3ba9b98a4d85bde63
AP file
In this Feb. 22, 2019, file photo trader Andrew Silverman works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, March 7.

NEW YORK — U.S. stocks moved lower in morning trading Thursday, led by banks and technology companies, putting the market on track for its first losing week since January.

Utilities and real estate stocks eked out slight gains as investors moved toward safer holdings.

A lack of concrete news on trade and lingering economic concerns has been weighing on stocks all week. Investor optimism about progress in trade talks between the U.S. and China appears to be waning. Media reports have signaled that a deal could be struck this month, but there is less confidence in any of the major issues being resolved.

Despite the trade war, China still faces a slowdown in economic growth that analysts fear could impact the global economy. Meanwhile, the U.S. trade deficit ballooned, in large part because of costly tariffs brought on by its damaging trade war with China.

China’s government has also taken up a series of stimulus measures The Federal Reserve in the U.S. has pulled back from raising interest rates, acknowledging potential threats to economic growth.

KEEPING SCORE: The Dow Jones Industrial Average fell 219 points, or 0.9 percent, to 25,453 as of 10 a.m. The S&P 500 index fell 0.8 percent and the Nasdaq composite fell 0.9 percent.

CLEANUP IN AISLE THREE: Kroger plunged 14 percent after the grocery store operator reported weak earnings and a drop in fourth-quarter revenue that fell short of Wall Street forecasts.

OVERSEAS: European markets narrowed their losses after the European Central Bank became the latest central bank to acknowledge weaker economic growth and take action to lessen the damage.

The ECB took unexpectedly quick action Thursday, pushing back the earliest date of interest rate increases and announcing a new round of cheap loans to banks. It said it will not raise rates before the end of this year at the earliest. Previously, it had said that earliest rate hike would come in the fall.

European government bond prices rose, sending yields lower.

Categories: Business | Wire stories
TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.