Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Stocks - Dow Falls; Trump Stokes U.S.-China Tensions

Published 05/01/2020, 01:11 PM
Updated 05/01/2020, 02:47 PM
© Reuters.

By Yasin Ebrahim 

Investing.com – The Dow declined on Friday, paced by declines in Amazon and Apple, after their earnings reports failed to live up to investor expectations, and fresh worries over U.S.-China tensions.

The Dow Jones Industrial Average fell 2.37%, the S&P 500 lost 2.76%, while the Nasdaq Composite fell 3.07%.

With many seeing the worst of the Covid-19 pandemic in the rearview mirror, investors sentiment was dealt a blow as President Donald Trump renewed the prospect of a fresh U.S.-China conflict.  

Trump insisted Beijing would be held accountable for its role in the pandemic after alleging that the virus originated from a lab in China.

White House economic advisor Larry Kudlow told CNBC there was "no question" Trump would follow through on his threat.

On the earnings front, Amazon.com (NASDAQ:AMZN) fell 6.6% after the e-commerce giant late Thursday reported lower first-quarter earnings and said it expected an operating loss of $1.5 billion to an operating income of $1.5 billion in the second quarter due to a jump in Covid-19-related expenses.

Apple (NASDAQ:AAPL), meanwhile, fell 1%, after reporting flat revenue growth. It did not offer guidance for the June quarter, citing coronavirus uncertainty.

Newell Brands (NASDAQ:NWL), meanwhile, slumped 10% after the manufacturer reported a decline in quarterly earnings and revenue.

Energy stocks, meanwhile, were among the biggest decliners, shrugging off a climb in oil prices as major oil-producing countries got their agreed output cuts underway in a bid to offset falling demand.

Elsewhere, Tesla (NASDAQ:TSLA) slumped 9.5% after CEO Elon Musk tweeted that the stock price was "too high." The remark comes just days after the electric automaker reported a surprise quarterly profit.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Looks that still after 4 years of the chipmunk people don't know him. He likes, need, wants to stay in front and headlines (he said that even with bad news is good). Right now his Covid-19 press meetings are not in the first headlines SOOO is trying to make people talk him on some other subject, of course what he says is nonsense. Learn. Stocks are overbought, simple, the coincidences are found in your head. Good luck.
you mean what?i faced with very bad situation ,are you hope dow jones situation get better and goes up?
This just in....the IRS has mistakenly sent $1200 stimulus checks to foreign workers. The estimate right now is about 400,000 direct deposits were made to offshore former workers who have since returned to their home countries long before the Covid-19 threat first appeared. Nice job Steve! Nice job Dr Donny! Botched again!
Yeah, and? Demoturds want to give more currency to illegals lmao. Our political system is broken. People now will vote according to who gives them the most currency. Mark my word.
why title this article that President Trump is stoking tension? I question your mindset and disposition.
There is an other person you should question his mindset Jim. The man is insane...
I tell you guys ... Sleepy Joe will beat Trump this fall, even if he falls asleep. That's how easy it would be for Biden. The country is united to end Trump's run.
Is the “chinese virus” Trump’s fault ?
It is COVID-19 and the world sticks to this standard. The virus was nature made so no humans can stop it when nature strike a ******
Sure, it is Trumps fault, because it is US virus, you got?
Gitt outa here..!
Atta boy, Donny! Tariff them into the ground!!!!
You mean Tariff Americans!? Free trade = Capitalism.
notice how the communist propaganda articles here have not put trump's name in a single headline where they talking about the market going up for the 40% run for the past several weeks, but as soon as market sees a red day every article is plastered with his name
we need to dismantle China for their people's sake. the US could do it in a month or two and the markets would fly higher. war is good
I know Chinese people. there is a reason why they flee to the US. those with open eyes know.
What makes you think we can win a war with China?
For every American there are 8 Chinese dude... and they ar more disciplined... they are technologically more advanced and have a younger, more performant infrastructure... everything in the US is worn out, even the President. So forget your 2 months...
There is one thing more worse than COVID-19, Trump.... This is another move that rattles the world. The only ones getting better from are the ones close to Trump. Give the man a single trip with SpaceX
Time to declare war on China!! 20 million man out work will be good soldiers!!
Jan!!! Are you gone send 20 million good man to China? Go do some math to calculate their chances.
Time to declare war on Trump I would say... he lost it completely...
China has 1.4B strong. Do you really think a small 20million can scare the might of a 1.4Billion consumers strong?
Don't mess with China, you'll get burned big times our economy is a mirage controlled by the greed of the Wall Street gangsters....
Don't fret, Mueller's report will be out by end of next week, and it will PROVE that Trump colluded with Russia to defeat the poor innocent Clinton.  Then he will be indicted, arrested and impeached all in the same day!
Investing.com better start paying me... every article I start commenting, I attract so many commentors.
Hey guys don't get the "WONG" idea. This is just talk. Trump is playing the blame game. He's going to do whatever he needs to in order to increase the stock market and get reelected. Remember what he says is almost never what he actually does. Salesman puffery.
Trump is a nut job coddling a dictator like Kim to try to win a Nobel but pursuing a trade war with China in time of economic crisis. The world economy needs stimulus and more trade activity not barriers to them like tariffs. Dump Trump 2020.
Nah. He's just putting the blame on China for his slow reaction to the virus. He won't start another trade war. Not good for stocks... Which he sees as his own indicator of how well he's doing his job.
Businesses will pressure him to left all sactions soon. If he doesn't, then expect huge layoffs in the second half that affect the mid and large size corporations.
John, I believe you are not "WIGHT"...
No "V" guys! We're going to retest those lows!  The gig and sharing economy with one rate hike in eight years was booming times!     Will the always wrong fanatic8ally bra1ndead left1st imbe8ile  get one right by mistake at some point?
Let's just rip off the bandaid and go to war with china, destroy the communist regime and finally make the world a better place.
What makes you think we can win a war against China? I just read the news this weekend, China expelled a US Navy vessel from the South China Sea for sailing by their islands.
We cannot win a war with China, they whipped Nixon in Nam after he sacrificed 20,000 of our troops by sabotaging the peace plan that was about to happen.However we could win with the bomb something the dummy at the helm may try in order to put a cap on his record for failure.
China intentionally unleashed a biological weapon upon the entire world. You, I, and everyone else knows it.
I tell you guys something ... Trump is like a day trader, he has very short term plays. His time horizon is only months out. While President is like the value investor like Warren Buffet. He play the long term strategic time frame. He looks 10 years out. I ask you, you do you thing will win when these two meet on the economic battlefiled?
 go back to your home country and ***the life out of your president xi - cophant
America is my home country.
Trump will win because China's economy is a house of cards.
Dr Donny is at it again — yet another failed policy to further damage the economy.
I think trump's family planning to make some money ... I m sure he will tweet again when family need to sell
If you were posting dow 14,000 instead of buying AMZN you should probably be banned from managing  your own money.
the hedge funds thank you for buying all their expensive stocks during the ER pummps, now for the fake selloffs
the "trade war" nonsense is just a happy coincidence...it is not driving this in any way
I can stop LOLing at the always wrong fanat1cally bra1ndead leftist imbc1le missing the greatest rally in Wall St history.
Those drop the most are semiconductors which would be hurt the most from the trade war.
Fake News.  Produce the FULL clip where President Trump says "Beijing would be held accountable for its role in the pandemic" and you'll see there is more before and after the clip.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.