Boeing fell almost 2 percent, turning the Dow Jones Industrial Average negative, with traders citing continuing fallout from reports on Tuesday that U.S. President Donald Trump is seeking to impose tariffs on up to $60 billion of Chinese imports.
"Trump's trigger-happy use of tariffs against the second-largest economy in the world would quickly backfire on the US", says Bernard Baumohl, chief global economist at the Economic Outlook Group.
The stock market turned in modest gains Friday as the Dow Jones industrial average, S&P 50o and Nasdaq composite capped the week with weekly losses ranging 1% to 1.5%.
The Dow Jones industrial average gave up 265 points, or 1.1 percent, to 24,745.
Major U.S. manufacturers have been the heaviest hit since Trump trailered and then announced tariffs on steel and aluminum imports earlier this month.
Technology companies bounced back in early trading Wednesday.
Department stores and other retailers fell after the Commerce Department said retail sales declined in February.
Ford rose 2.2 percent after Morgan Stanley upgraded the stock to "overweight" from "underweight" and raised its earnings estimate on the automaker.
The S&P 500 gained 5 points, or 0.2 percent, to 2,770.
Financial stocks.SPSY fell 0.37 percent, tracking a decline in USA bond yields on the back of soft retail sales data.
Signet Jewelers plunged 20 percent after giving weak a forecast.
Advancing issues outnumbered decliners on the NYSE by 1,744 to 796.
The technological Nasdaq Composite finished the day with decrease of 1% and put an end to its 7-day growth. This article is strictly for informational purposes only. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.