Wall Street closes down due to the fall of technology

Wall Street ended Friday due to a combination of weak economic data in China and disappointing profits that negatively impacted technology companies and the Internet. Crude prices have declined for the tenth day in a row.

Car sales in China declined for the fourth consecutive month in October and fell 13% from a year ago, the latest indication of the pressures of its economy. Concerns about the Chinese economy and its trade disputes with the United States contributed to the global decline in equity markets in October.

"China has played a key role in driving global growth," said Kristina Hooper, global market strategist at Invesco. Investors "are worried that this tariff war will affect China when it's not going well".

US crude fell 0.8% and prolonged its downswing. Oil has been on a downward trend for five weeks and has lost 21% since 3 October. Companies in the energy sector recorded heavy losses during this period.

The weak projections of companies like the videogames company
Activision
Blizzard and the Skyworks Solutions microprocessor also contributed to Friday's decline.

The S & P 500 index fell 25.82 points, 0.9%, to 2,781.01. The Dow Jones Industrial Average fell 201.92 units, 0.8%, to 25.989.30.

The Nasdaq composite index fell to 123.98, the entire 1.6%, to 7,406.90. The Russell 2000 index lost 28.72 units, 1.8%, to 1,549.49.

The Labor Department said that wholesale prices increased in the United States and Hooper said it could be due to tariff litigation. In October, wholesale prices reached the highest level in six years due to the increase in gasoline, food and chemicals. The index of wholesale prices of addiction increased by 2.9% in the last year.

Activision Blizzard had losses because its projections for the critical season at the end of the year were lower than those of analysts. Its shares have fallen by 2.4% and are priced at $ 55.01. Electronic Arts was down 5.3% and sold for $ 88.89.

Even the major technology and Internet companies have come back. Those of Apple lost 1.9% to 204.47 dollars and those of Facebook, 2% to 144.96 dollars. Those of Amazon lost 2.4% and ended up in 1,712.43 dollars.

US crude oil fell to $ 60.19 a barrel in New York, the lowest level in nearly eight months. Brent had an equally bad day and dropped 0.7% to $ 70.20 a barrel in London.

The yield on the ten-year Treasury stock fell from 3.23% to 3.18%.

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Marley Jay is on Twitter as: http://twitter.com/MarleyJayAP

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, transmitted, rewritten or redistributed.

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