Trade-sensitive chip stocks took a beating
The Dow pared some of its earlier losses, but still ended well below breakeven, as traders brace for a possible tariff increase on $200 billion in Chinese goods. President Donald Trump earlier said that China "broke the deal" and will pay, but later said it's still possible Washington and Beijing could strike a deal ahead of the midnight deadline. Meanwhile, Intel (INTC) only added to the Dow's woes, and sell-offs from tariff-sensitive chip stocks also weighed on the Nasdaq and S&P, both of which wrapped up a fourth straight loss.
Continue reading for more on today's market, including:
The Dow Jones Industrial Average (DJI - 25,828.36) lost about 139 points, or 0.5%, in today's trading. Nine of the 30 stocks finished higher, with Chevron CVX) in the lead on a 3.1% surge, while Intel spent its second day at the bottom with a 5.3% drop.
The S&P 500 Index (SPX - 2,870.72) fell 8.7 points, or 0.3%, by the close, while the Nasdaq Composite (IXIC - 7,910.59) ended 32.7 points, or 0.4%, lower.
The Cboe Volatility Index (VIX - 19.10) finished 0.3 point, or 1.5%, lower, after reaching a four-month intraday high of 23.38 earlier.


5 Items on our Radar Today
- Senator Bernie Sanders and Rep. Alexandria Ocasio-Cortez just announced their new plan to limit credit card interest rates to 15%, compared to the national average of 17.73%. The measure comes amid Senator Sanders' bid in the 2020 Democratic presidential primary. (CNBC)
- Amid the recent measles outbreak, Instagram will begin blocking hashtags with false anti-vaccine rhetoric. The social media platform is following in the footsteps of peers like Pinterest and Amazon. (The Verge)
- How Schaeffer's subscribers doubled their money on this EOG trade.
- Ralph Lauren stock scored a bull note ahead of earnings.
- Why analysts think this small-cap stock could triple.


Data courtesy of Trade-Alert
Oil Ends Lower Amid Trade Anxieties
Anxieties over the global economy dampened oil prices today, raising uncertainties over future demand. June-dated crude dropped 42 cents, or 0.7%, to land at $61.70 a barrel.
Traders looked to gold amid a shaky trading day for equities. As such, June-dated gold rose $3.80, or 0.3%, to finish at $1,285.20 an ounce.