Wall Street dips premarket, Dow down nearly 150 pts

Monday, 20. May 2019 14:08

Wall Street traded in the red in premarket on Monday as investors grew increasingly concerned over the latest developments in the trade dispute between the United States and China. Earlier, a number of companies, including tech giant Google, decided to suspend business with Huawei, due to the Department of Commerce's decision to add the Chinese company to a trade blacklist.

Among the biggest losers in premarket trading were chipmaking companies, including Qualcomm, Broadcom, Intel and Micron.

The Dow Jones Industrial Average contracted 0.57% or 148 points at 8:07 am ET, the Nasdaq 100 plunged 1.44% at the same time, while the S&P 500 declined 0.71% at 8:08 am ET.

The euro traded flat against the dollar, changing hands for 1.1163 at 8:08 am ET.

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