• Latest
  • Trending
Things Fallout for Tech Giant Huawei

Wall Street Glissades Down as Things Fallout for Tech Giant Huawei

29/05/2019
Quick Ways to Get Followers on Instagram

Quick Ways to Get Followers on Instagram

27/05/2022

Start-up prep: Understanding the common pitfalls

10/05/2022
The standard 60/40 investment portfolio is dead: deVere CEO

The standard 60/40 investment portfolio is dead: deVere CEO

14/04/2022
Five of the Best Private Chefs & Catering Companies in Chamonix

Five of the Best Private Chefs & Catering Companies in Chamonix

03/03/2022
How fashion course help in fashion styling

How fashion course help in fashion styling

22/02/2022
Premier League matchday parking is almost double the cost of matchday parking in the Championship, new research reveals

Premier League matchday parking is almost double the cost of matchday parking in the Championship, new research reveals

08/02/2022
Why You Need an Updated Skincare Routine in the Winter

Why You Need an Updated Skincare Routine in the Winter

26/11/2021
Masham in Harrogate is the biker capital of the UK, new research reveals

Masham in Harrogate is the biker capital of the UK, new research reveals

17/11/2021
The British Brands Defined By Their Animal Association

The British Brands Defined By Their Animal Association

11/11/2021
5 Iconic Celeb-Inspired Shoe Trends We Can’t Resist

5 Iconic Celeb-Inspired Shoe Trends We Can’t Resist

10/11/2021
Top Reasons to Eat Superfoods

Top Reasons to Eat Superfoods

08/11/2021
A well-timed SMS will still be King of the Marketing Castle this Black Friday event

A well-timed SMS will still be King of the Marketing Castle this Black Friday event

08/11/2021
  • Authors
  • Write for us
  • Contact
Saturday, May 28, 2022
PostRadar
  • News
  • Business
    • Employment
    • Recruitment
    • Industrial
    • Marketing
  • Finance
    • Personal Finance
  • Property
    • Property Market
  • Lifestyle
    • Food & Drink
    • Healthcare
    • Consumer Advice
    • Fashion
    • Books
  • Travel
    • Tourism
  • Write for us
No Result
View All Result
  • News
  • Business
    • Employment
    • Recruitment
    • Industrial
    • Marketing
  • Finance
    • Personal Finance
  • Property
    • Property Market
  • Lifestyle
    • Food & Drink
    • Healthcare
    • Consumer Advice
    • Fashion
    • Books
  • Travel
    • Tourism
  • Write for us
No Result
View All Result
PostRadar
No Result
View All Result
Home Finance Trading

Wall Street Glissades Down as Things Fallout for Tech Giant Huawei

Dan by Dan
29/05/2019
in Trading
34
17
SHARES
65
VIEWS
Share on FacebookShare on Twitter

The White House’s restriction on Chinese company Huawei Technologies Co. Ltd. has resulted in skidding of the U.S. Stocks. Hitting a considerable low on the charts, this move has raised concerns over the tartness of trade relations between China and the US.

After having been added to the trade blacklist, several companies have started bailing off the business terms with Huawei. The world’s biggest Android concomitant company, Google, has stopped providing access to their apps and services. Another stake holder, Lumentum Holding Inc, has supposedly stopped sending mobile phone parts to Huawei.

According to a Bloomberg report, various other chip-making companies including Intel Corp, Qualcomm and Broadcom Inc have been decisive on not supplying the company with any of their products or parts.

The impact due to Huawei’s fallout has been severe with the stocks tumbling down to their record lows. Qualcomm, Broadcom and Micron Technology Inc, which supply parts to Huawei reside under The Philadelphia Semiconductor Index has affected with a substantial drop of 4% which is the lowest in the two months.

The biggest hole in Wall Street’s indexes was caused with the 3.1% drop in Apple’s share doing the damage. The shares were further affected after HSBC gave a fair warning about the higher pricing of products affecting the demands of the products. The new tariffs implemented resulted in an overall higher price of the products.

Chad Morganlander, senior portfolio manager at Washington Crossing Advisors stated that the political risks prevailing now became business risks. He further added this could hurt the earning expectations of companies.

Some other companies suffered the losses, these are-

  • Dow Jones Industrial Average fell by 84.1 points or 0.33% to an average of 25,679.9
  • S&P 500 lost 19.3 points or 0.67% to an avg. of 2,840.23
  • Nasdaq Composite dropped to a low of 7,702.38p with a drop of 113.91 points or 1.46%.

Stating about the trade fights, Matt Watson, profile manager at James Investment Research made it clear that they won’t be going in for any sort of trading or buying.

The Federal Communication Commission’s decision led by the Chairperson Ajit Pai himself in favour of the merging of Sprint Corp and T-Mobile US Inc gave a boost to the share gains. However, they lost gains after Bloomberg stated that the US Department of Justice was on the contrary. Despite this, shares of Sprint rose by 18.8%, and that of T-Mobile benefitted by 3.9%.

The shares of Dish Network Corp dipped 5.9% when the company announced its allegiance with EchoStar Corp regarding the purchase of broadcast satellite service assets in an $800 million deal. The loses, however, were recovered in the afternoon trading session.

NYSE had a ratio of 2.03-to-1 to the declining issues outnumbering the advancing ones. And, on the stocks of Nasdaq, a 1.81-to-1 ratio was in favour of the decliners.

The following organisations had some serious data to tabulate-

  1. S&P 500
    25 new 52-week highs
    11 new lows
  1. Nasdaq Composite
    35 new high
    152 new lows

Over the last 20 trading days, the volume on U.S. exchanges was 6.4 billion shares as compared to an average of 7.01 billion for a full session.

Share7Tweet4Share2

Related Posts

Things to Consider When Choosing a Commodity Broker

Things to Consider When Choosing a Commodity Broker

14/05/2020
63
Merlin Entertainment Stocks

Waxworks didn’t pay off; Merlin Entertainment Stocks crash by 6.7%

29/05/2019
91
Atlas has a new captain

Atlas has a new captain

29/05/2019
68
Trump Scales Back Huawei Restrictions

Trump Scales Back Huawei Restrictions amidst Trade War with China

29/05/2019
44
No Result
View All Result

Looking for writing opportunities

Get in touch to find out more.

Start Writing

Latest News

  • Trending
  • Comments
  • Latest
TalkTalk

TalkTalk: How To Make Customer Services Listen To Your Complaint?

07/05/2019
Pensioners

Pensioners: 2019 First Quarter Performance Revealed

03/05/2019
American stock market

How the American stock market is being affected by the current presidential run of Donald Trump

10/05/2019
“Margaret Beaufort of Bourne, Collyweston, Maxey and Deeping: The Tudor Dynasty” by Margaret Wainwright is published

“Margaret Beaufort of Bourne, Collyweston, Maxey and Deeping: The Tudor Dynasty” by Margaret Wainwright is published

23/12/2020
DB Transfer Inflows

DB Transfer Inflows At BJ Bell Half Over 12 Months

Hertz Deposit

£500 Hertz Deposit that somehow went “Undetected”

Fuel Efficient Petrol Cars

The Most Fuel-Efficient Petrol Cars You Can Buy

New Tax Reforms

Buy To Let Business Took A Hit In London With The New Tax Reforms

Quick Ways to Get Followers on Instagram

Quick Ways to Get Followers on Instagram

27/05/2022

Start-up prep: Understanding the common pitfalls

10/05/2022
The standard 60/40 investment portfolio is dead: deVere CEO

The standard 60/40 investment portfolio is dead: deVere CEO

14/04/2022
Five of the Best Private Chefs & Catering Companies in Chamonix

Five of the Best Private Chefs & Catering Companies in Chamonix

03/03/2022

Quick Links

  • Home
  • Authors
  • Contact
  • Write for us
  • Sitemap

Browse By Topic

  • News
  • Business
  • Finance
  • Lifestyle
  • Entertainment
  • Politics
  • Property

Recent News

News

Quick Ways to Get Followers on Instagram

27/05/2022
8
Business

Start-up prep: Understanding the common pitfalls

10/05/2022
19

© 2019 PostRadar

No Result
View All Result
  • Write for us
  • Get in touch
  • Home
  • Topics
  • Business
  • Education
  • Energy
  • Entertainment
  • Finance
  • Legal
  • Lifestyle
  • Politics
  • Property
  • Science & Technology
  • Transport
  • Travel

© 2019 PostRadar.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.