Investing.com - Wall Street slumped on Friday as trade hopes waned after China’s state-run media expressed impatience with how talks were going with the U.S.
The S&P 500 fell 14 points, or 0.5%, by 9:39 AM ET (13:39 GMT), while the Dow lost 133 points, or 0.5%, and the tech-heavy Nasdaq composite was down 50 points, or 0.6%.
It is "meaningless" for officials to meet without the U.S. showing it is sincere, according to Taoran Notes, a WeChat blog run by the state-owned Economic Daily, seen as a mouthpiece for government opinion.
The comments, just one day after the White House excluded Huawei and other Chinese companies from the U.S. market, are a turn of rhetoric for China, which had previously been patient and hopeful on a deal being reached.
Pinterest (NYSE:PINS) slumped 14% after the open, as its first earnings report since going public failed to beat estimates, while Amazon (NASDAQ:AMZN) was down 0.7%.
Uber (NYSE:UBER) lost 3% on news that Amazon invested $575 million into U.K.-based delivery company Deliveroo.
Meanwhile Deere (NYSE:DE) slipped 4% as ongoing trade tensions and rain-delayed planting hit the company’s bottom line.
In commodities, gold futures fell 0.3% to $1,281.85 a troy ounce, while crude oil rose 0.4% to $63.17. The U.S. dollar index, which measures the greenback against a basket of six major currencies, neared a two-year high at 97.700.