Dow drops over 250 pts, down 1%

Thursday, 07. February 2019 17:11

The Dow Jones Industrial Average dropped over 1% or 252 points at 11:11 am ET on Thursday after White House economic adviser Larry Kudlow's remarks that a lot of work is left in trade talks between Washington and Beijing. The official noted that issues like technology and legal enforcement still remain to be negotiated on.

The Dow was dragged down by DowDuPont Inc. and IBM, which lost 2.54% and 2.40% at 11:11 am ET, respectively. Meanwhile, the Nasdaq 100 sank 1.30% at 11:15 am ET, with Biogen Inc. as the worst trading stock, losing 4.76%. The S&P 500 was down 1.13% at 11:16 am ET where Tapestry Inc. traded with significant losses of 18.16%. Social media giant Twitter Inc. sank 10.07% after its earnings report published today before the opening bell.

The euro was 0.11% lower compared to the dollar, changing hands for 1.1355 at 11:18 am ET.

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Breaking the News / SS