Shocking Dow falls below 24,000 points – Yahoo Finance

U.S. stocks extended declines after concerns of escalating trade tensions and slowing global growth sent equities reeling last week.

^GSPC) fell 1.43%, or 38.7 points, as of 12:05 p.m. ET, with the energy and financial sectors leading declines. At the lows of the session, the S&P 500 fell to 2,583.23 points, the lowest level in more than eight months.” data-reactid=”16″ type=”text”>The S&P 500 (^GSPC) fell 1.43%, or 38.7 points, as of 12:05 p.m. ET, with the energy and financial sectors leading declines. At the lows of the session, the S&P 500 fell to 2,583.23 points, the lowest level in more than eight months.

^DJI) fell 1.78%, or 433.62 points as of 12:05 p.m. and reached a more than seven-month low of 23,881.37 points. The Nasdaq (^IXIC) slipped 0.82%, or 57.34 points. ” data-reactid=”17″ type=”text”>The Dow (^DJI) fell 1.78%, or 433.62 points as of 12:05 p.m. and reached a more than seven-month low of 23,881.37 points. The Nasdaq (^IXIC) slipped 0.82%, or 57.34 points. 

declined by about 5% by the end of last week. Equities took a sharp turn lower last week after news broke that Meng Wanzhou, CFO of Chinese tech giant Huawei Technologies, was arrested in Canada and faces extradition to the U.S for allegedly breaching U.S. sanctions on Iran. China on Sunday summoned the U.S. ambassador to Beijing to protest Meng’s detention. The arrest of Meng, an executive of the second-largest smartphone vendor in the world, is viewed as a potential roadblock to the U.S. and China reaching a permanent trade deal.” data-reactid=”18″ type=”text”>Each of the three major indices declined by about 5% by the end of last week. Equities took a sharp turn lower last week after news broke that Meng Wanzhou, CFO of Chinese tech giant Huawei Technologies, was arrested in Canada and faces extradition to the U.S for allegedly breaching U.S. sanctions on Iran. China on Sunday summoned the U.S. ambassador to Beijing to protest Meng’s detention. The arrest of Meng, an executive of the second-largest smartphone vendor in the world, is viewed as a potential roadblock to the U.S. and China reaching a permanent trade deal.

interview with CNBC on Friday. U.S. Trade Representative Robert Lighthizer said on Sunday that he considers March 1 to be “a hard deadline” to come to a trade agreement with China before new tariffs could then be imposed.” data-reactid=”19″ type=”text”>Other trade-related headlines also rippled through the weekend. White House trade adviser and prominent China hawk Peter Navarro shrugged off tariff concerns as being a source of market volatility in comments during an interview with CNBC on Friday. U.S. Trade Representative Robert Lighthizer said on Sunday that he considers March 1 to be “a hard deadline” to come to a trade agreement with China before new tariffs could then be imposed.

China’s factory inflation and consumer price indices each slowed in November, and import growth decelerated to the slowest rate in more than two years. Japan’s gross domestic product fell to an annualized pace of a 2.5% contraction in the third quarter, the sharpest rate of decline in more than four years.” data-reactid=”20″ type=”text”>The decline in U.S. equities trails a downward trend on Monday among global stocks, which have been weighed down in part by weak recent data from major economies. China’s factory inflation and consumer price indices each slowed in November, and import growth decelerated to the slowest rate in more than two years. Japan’s gross domestic product fell to an annualized pace of a 2.5% contraction in the third quarter, the sharpest rate of decline in more than four years.

postponed the final vote on her Brexit deal originally scheduled to take place on Tuesday. Earlier reports that the vote would be delayed sent the pound tumbling to its lowest level in 18 months. On Saturday, Amber Rudd, Work and Pensions minister and a close ally of British Prime Minister Theresa May, became the first cabinet minister to offer possible alternatives if parliament rejects May’s proposal to leave the European Union.” data-reactid=”21″ type=”text”>In Europe, British Prime Minister Theresa May postponed the final vote on her Brexit deal originally scheduled to take place on Tuesday. Earlier reports that the vote would be delayed sent the pound tumbling to its lowest level in 18 months. On Saturday, Amber Rudd, Work and Pensions minister and a close ally of British Prime Minister Theresa May, became the first cabinet minister to offer possible alternatives if parliament rejects May’s proposal to leave the European Union.

CL=F) fell 1.77% to $51.68 per barrel as of 12:06 p.m. ET, while Brent crude prices (BZ=F) fell 1.15% to $60.96 per barrel.” data-reactid=”22″ type=”text”>Oil prices lost steam after surging on Friday following a decision by OPEC+ to cut output by 1.2 million barrels per day in an attempt to help rebalance the oil market. Goldman Sachs wrote in a note that there “remains uncertainty” around the exact implementation of the cuts “given the lack of country allocation and the exemptions of Libya, Venezuela and Iran.” U.S. crude oil futures (CL=F) fell 1.77% to $51.68 per barrel as of 12:06 p.m. ET, while Brent crude prices (BZ=F) fell 1.15% to $60.96 per barrel.

STOCKS: GoPro to move U.S. camera production out of China, Gilead names Roche executive as CEO

GPRO) will move most of its U.S. camera production out of China by summer 2019 in order to mitigate the impact of new tariffs, the company said in a statement Monday. International production, however, will remain in China. Nick Woodman, CEO of the action camera company, previously said he was seeking to move production out of China in order to circumvent potential levies. Shares of GoPro fell along with the broader market, declining 3.72% to $4.80 each as of 11:25 a.m. ET.” data-reactid=”24″ type=”text”>GoPro (GPRO) will move most of its U.S. camera production out of China by summer 2019 in order to mitigate the impact of new tariffs, the company said in a statement Monday. International production, however, will remain in China. Nick Woodman, CEO of the action camera company, previously said he was seeking to move production out of China in order to circumvent potential levies. Shares of GoPro fell along with the broader market, declining 3.72% to $4.80 each as of 11:25 a.m. ET.

QCOM) won a preliminary order banning the import and sale of Apple (AAPL) iPhone models in China found to have violated two of Qualcomm’s patents, the company said in a statement Monday. The preliminary order, coming from the Fuzhou Intermediate People’s Court in China, affects the iPhone 6S through the iPhone X models. Qualcomm first filed the case in China in late 2017. Shares of Qualcomm rose 2.79% to $57.56 each as of 11:25 a.m. ET, while shares of Apple fell 2.07% to $165 each.” data-reactid=”25″ type=”text”>Qualcomm (QCOM) won a preliminary order banning the import and sale of Apple (AAPL) iPhone models in China found to have violated two of Qualcomm’s patents, the company said in a statement Monday. The preliminary order, coming from the Fuzhou Intermediate People’s Court in China, affects the iPhone 6S through the iPhone X models. Qualcomm first filed the case in China in late 2017. Shares of Qualcomm rose 2.79% to $57.56 each as of 11:25 a.m. ET, while shares of Apple fell 2.07% to $165 each.

TVTY) is buying weight management products company Nutrisystem (NTRI) in a cash and stock deal valued at about $1.4 billion, according to a statement Monday. Nutrisystem shareholders will receive $38.75 per share in cash and 0.2141 Tivity shares for each share of Nutrisystem stock. Shares of Nutrisystem surged 28.33% to $43.89 each as of 11:26 a.m. ET, while shares of Tivity fell 31.94% to $27.64 each.” data-reactid=”26″ type=”text”>Tivity Health (TVTY) is buying weight management products company Nutrisystem (NTRI) in a cash and stock deal valued at about $1.4 billion, according to a statement Monday. Nutrisystem shareholders will receive $38.75 per share in cash and 0.2141 Tivity shares for each share of Nutrisystem stock. Shares of Nutrisystem surged 28.33% to $43.89 each as of 11:26 a.m. ET, while shares of Tivity fell 31.94% to $27.64 each.