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Trade fears hit Wall Street



The Dow Jones industrial average fell 79 points.

The Dow fell 79 points, or 0.29%, to 26 891,12. The S&P 500 slid 0.24% to close at 2,977.62. The Nasdaq Composite dropped 0.6% to 8,030.66. The meander on Thursday came as investors were overcome by concerns over US-China trade relations and growing pressure from Democrats to impeach President Donald Trump. The S&P 500 is underway for its second consecutive weekly decline, down 0.4% this week.

Stocks, impeachment fears take the air out of the market

Stocks have fallen since a Bloomberg News report says the US is unlikely to resume US companies' refusal to sell supplies to Chinese telecommunications giant Huawei. The report, which cites an official, has raised concerns that both sides may struggle to reach a trade deal when they meet in Washington next month.

Meanwhile, filing a complaint against Trump has added concerns about the possibility of impeachment. In the complaint, the singer said Trump used his office to seek intervention from a foreign country before the 2020 election. Cabinet Chairman Nancy Pelosi called the situation a "cover-up". That comes a day after the administration released a memo about a conversation between Trump and Ukrainian President Vladimir Zelensky.

Big tech stocks hit again

Facebook, Amazon, Netflix and Google parent Alphabet have helped pull down the market. Facebook and Amazon slid more than 1

%, while Netflix dropped 0.5% and Alphabet dropped 0.29%.

What happens next?


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