Dow Falls; Trump stokes tensions between the United States and China by Investing.com

By Yasin Ebrahim

Investing.com – The Dow declined on Friday, accompanied by declines in Amazon and Apple, after its earnings reports failed to meet investor expectations and new concerns about tensions between the United States and China.

He fell 2.37%, the lost 2.76%, while he fell 3.07%.

With many seeing the worst of the Covid-19 pandemic in the rearview mirror, investor sentiment took a hard hit when President Donald Trump renewed the prospect of a new U.S.-China conflict.

Trump insisted that Beijing would be responsible for its role in the pandemic after alleging that the virus originated from a laboratory in China.

White House economic adviser Larry Kudlow told CNBC that “there was no doubt” that Trump would follow through on his threat.

On the earnings front, Amazon.com (NASDAQ 🙂 fell 6.6% after the e-commerce giant reported lower first-quarter earnings Thursday night and said it expected an operating loss of $ 1.5 billion. to operating income of $ 1.5 billion in the second quarter due to a jump in Covid-19 related expenses.

Apple (NASDAQ :), meanwhile, fell 1%, after reporting flat revenue growth. He offered no guidance for the June quarter, citing the uncertainty of the coronavirus.

(NASDAQ :), meanwhile, fell 10% after the manufacturer reported a decline in quarterly earnings and revenue.

Meanwhile, energy stocks were among the biggest declines, ignoring a rise in oil prices, as major oil-producing countries began their agreed production cuts in a bid to offset falling demand.

Elsewhere, Tesla (NASDAQ 🙂 fell 9.5% after CEO Elon Musk tweeted that the stock price was “too high.” The comment comes just days after the electric car maker reported a surprise quarterly profit.