Wall Street drops; White House considers delisting Chinese companies

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U.S. stocks fell on Friday after reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges, raising worries about a further escalation in the U.S.-China trade war.

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NEW YORK (Reuters) – U.S. stocks fell on Friday after reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges, raising worries about a further escalation in the U.S.-China trade war.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 23, 2019. REUTERS/Brendan McDermid

Declining issues outnumbered advancing ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.94-to-1 ratio favored decliners.

The S&P 500 posted 11 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 29 new highs and 118 new lows.

Volume on U.S. exchanges was 6.68 billion shares, compared to the 7.2 billion average for the full session over the last 20 trading days.

Additional reporting by Sinead Carew in New York and Ambar Warrick and Medha Singh in Bengaluru; Editing by Shounak Dasgupta, Chizu Nomiyama and Sonya Hepinstall


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Author:

U.S. stocks fell on Friday after reports that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges, raising worries about a further escalation in the U.S.-China trade war.

Source: {authorlink}

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