NEW YORK, Sept. 8 -- U.S. stocks ended lower for the holiday-shortened week, as the market was dented by tumbling tech shares amid global trade tensions.
All three major indices reported negative results, with the Dow, the S&P 500 and the Nasdaq declined 0.18 percent, 1.03 percent and 2.55 percent, respectively.
Tech stocks experienced a turbulent week. The sector dropped nearly 3 percent this week as investors were concerned over potential regulation for tech companies.
Shares of Twitter and Facebook fell 13.3 percent and 7.2 percent this week, respectively, after executives of the two U.S. social media giants testified before Congress on how to stop online abuse and election meddling. Shares of Apple, Amazon, and major U.S. chipmakers also struggled for gains.
The underperforming tech shares led the Nasdaq to post four-day losing streak.
For U.S. e-commerce giant Amazon, there was still a day to remember this week. Amazon hit 1 trillion U.S. dollars in market cap on Tuesday, becoming the second publicly traded U.S. company to reach the historic threshold after Apple.
Its shares rose nearly 2 percent to a high of 2,050.50 dollars apiece in morning trading, bringing it to reach the record valuation. The stock needed to hit a price of 2,050.27 dollars to reach the 1-trillion-dollar milestone based on its share count, according to the company's recent quarterly report in July. The stock retreated after the record high.
Fears of intensifying trade tensions between Washington and its key trading partners lingered over the week, weighing on the market.
Negotiators from the United States and Canada on Wednesday resumed trade talks after the two sides failed to reach a deal on the North American Free Trade Agreement (NAFTA) last week. It remains unclear whether the two countries can work out their differences through the extended talks.
Talks on renegotiating the NAFTA began in August 2017 as U.S. President Donald Trump threatened to withdraw from the trilateral trade deal, which he claimed harmed U.S. industries and jobs.
Wall Street also digested a slew of economic data.
The U.S. economy added 201,000 jobs in August, and the unemployment rate was unchanged at 3.9 percent, the Labor Department said on Friday.
Meanwhile, the average wage paid to U.S. workers rose by 10 cents to 27.16 U.S. dollars per hour. The yearly rate of earnings growth climbed to 2.9 percent in August from the July reading of 2.7 percent, the report showed.
The number of U.S. weekly jobless claims was 203,000 in the week ending Sept. 1, a decrease of 10,000 from the previous week's unrevised level, the Labor Department said on Thursday. The 4-week moving average was 209,500, a decrease of 2,750 from the previous week's unrevised average of 212,250.
U.S. private sector employment increased by 163,000 jobs from July to August, ADP August National Employment Report showed.
Meanwhile, the U.S. Institute for Supply Management (ISM) non-manufacturing index rose to 58.5 in August from the July reading of 55.7, beating market consensus. A reading above 50 indicates expansion in the service sector while a reading below 50 signals contraction.
山西省2016届高考英语一轮复习学案(新人教版) Uint 2《Cloning》选修8
河北省2016届高考英语一轮复习学案(新人教版) Unit 1《Cultural relics》必修2
2016届高考英语一轮复习专项练习 1《冠词》
山西省2016届高考英语一轮复习学案(新人教版) Uint 1《Great Scientists》必修5
山西省2016届高考英语一轮复习学案(新人教版) Uint 2《The United Kingdom》必修5
2016届高考英语一轮复习对点题组练习 专项11《名词性从句》
山西省2016届高考英语一轮复习学案(新人教版) Uint 2《Healthy Eating》必修3
山西省2016届高考英语一轮复习学案(新人教版) Uint 3《life in the future》必修5
2016届高考英语一轮复习专项练习 5《形容词和副词》
山西省2016届高考英语一轮复习学案(新人教版) Uint 1《Art》选修6
山西省2016届高考英语一轮复习学案(新人教版) Uint 3《Tavel journey》必修1
2016届高考英语一轮复习专项练习 9《情态动词和虚拟语气》
山西省2016届高考英语一轮复习学案(新人教版) Uint 1《Living well》选修7
河北省2016届高考英语一轮复习学案(新人教版) Unit 5《Nelson Mandela a modern hero 》必修1
2016届高考英语一轮复习对点题组练习 专项2《名词》
山西省2016届高考英语一轮复习学案(新人教版) Uint 1《women of achievement》必修4
2016届高考英语一轮复习专项练习 11《名词性从句》
2016届高考英语一轮复习专项练习 8《非谓语动词》
2016届高考英语一轮复习对点题组练习 专项13《特殊句式及其他》
山西省2016届高考英语一轮复习学案(新人教版) Uint 3《Computers》必修2
山西省2016届高考英语一轮复习学案(新人教版) Uint 1《A land of diversity》选修8
2016届高考英语一轮复习对点题组练习 专项4《代词》
2016届高考英语一轮复习专项练习 10《定语从句》
2016届高考英语一轮复习专项练习 3《介词和介词短语》
2016届高考英语一轮复习对点题组练习 专项5《形容词和副词》
2016届高考英语一轮复习专项练习 4《代词》
河北省2016届高考英语一轮复习学案(新人教版) Unit 5《Theme Parks》必修4
山西省2016届高考英语一轮复习学案(新人教版) Uint 2《Poems》选修6
山西省2016届高考英语一轮复习学案(新人教版) Uint 2《working the land》必修4
山西省2016届高考英语一轮复习学案(新人教版) Uint 1《Festivals around the world》必修3
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