Stocks sink on renewed China trade war fears
Stocks weak here as Trump talks up trade wars with China—again. And the Mouse House is under renovation. Will a new focus push shares higher? And, there’s trouble in the Valley. Theranos CEO is charged with ‘massive fraud.’ Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks in the red include Tesla on a CNBC report that the automaker is producing a high volume of flawed parts and cars that need repairs, Qualcomm as Broadcom ended its bid for the chipmaker after Trump blocked a proposed deal, and Signet, as it was not a good day for the Zales and Kay Jeweler parent as same-store sales fell 5.2% and its full-year profit forecast missed the mark.
Stocks in the green include MongoDB, with the database platform company reporting a smaller loss than expected and revenue that topped Street expectations; Ford as Morgan Stanley, in a rare double upgrade, says shares are cheap and that they are currently worth less than the F-150 franchise alone; and Square, with shares jumping here as Nomura Instinet says the payment company’s emerging opportunities like bitcoin payments make the stock ‘like Amazon in its early days.’
