The Dow Jones Industrial Average fell 2.24%.

At the close on the NYSE, the Dow Jones Industrial Average fell 2.24%, while the S & P 500 index fell 2.33%, and the NASDAQ Composite index fell 3.05%.

The Dow Jones Industrial Average fell 2.24%.

US stocks lower after closing on Friday because of losses in Technology, Consumer Services, Basic Material sector the cause stocks to be lower.

The worst players of the session were Intel Corporation (NASDAQ: INTC), which fell 4.40% or 2.13 points to trade at 46.24 at the close. Cisco Systems Inc. (NASDAQ: CSCO) declined 4.03% or 1.95 points to end at 46.44 and Microsoft Corporation (NASDAQ: MSFT) fell 4.00% or 4.37 points to 104.82.

The best players of the session on the Dow Jones Industrial Average were Johnson & Johnson (NYSE: JNJ), which fell 0.33% or 0.48 points to trade at 145.43 at the close. Meanwhile, Chevron Corp (NYSE: CVX) fell 0.36% or 0.42 points to finish at 115.49 and Coca-Cola Company (NYSE: KO) fell 0.59% or 0.29 points to 49.09 at the end of trading.

The best performance on the S & P 500 is PPL Corporation (NYSE: PPL) which rose 2.81% to 31.09, EQT Corporation (NYSE: EQT) which rose 2.33% to settle at 18.41 and Newmont Mining Corporation ( NYSE: NEM) which rose 2.24% to close at 33.39.

The worst players were Ulta Beauty Inc. (NASDAQ: ULTA) which fell 13.13% to 254.47 at the end of trading, Cooper Companies Inc. (NYSE: COO) which lost 12.28% to settle at 243.01 and American Airlines Group (NASDAQ: AAL) which fell 9.12% to 33.57 at the close.

The worst players were Viveve Medical Inc. (NASDAQ: VIVE) which fell 27.42% to 1.3500 at the end of trading, United Natural Foods Inc. (NASDAQ: UNFI) which lost 24.58% to settle at 14.88 and Akorn Inc (NASDAQ: AKRX) which fell 23.79% to 4.26 at the close.

Dow Removes Profits for the Year at Tech

US-China trade tensions were thrown into further turmoil after trade adviser President Donald Trump, Peter Navarro said that if the problem with China was not resolved during the 90-day ceasefire, the government would raise tariffs on Chinese goods worth $ 200 billion.

Dow erased gains for the year after plunging on Friday due to weak jobs reports and concerns over US-China trade tensions.

The Dow Jones Industrial Average fell 2.24% and fell 1.34% year-on-year. The S & P 500 fell 2.33%, while the Nasdaq Composite fell 3.05%.

White House economic adviser Larry Kudlow, however, offered a more optimistic outlook, told CNBC that Trump would consider extending a 90-day truce with China if progress was made in talks.

Heavyweight Industrial Boeing (NYSE: BA), 3M (NYSE: MMM) and Caterpillar (NYSE: CAT), all of which have strong international exposure, are under pressure, accelerating the downward momentum in the broader market.

Tech also made a significant contribution to the selloff on Wall Street, led by Apple after Morgan Stanley cut its price target on the tech giant’s shares amid fears the smartphone market is slowing in China.

Facebook (NASDAQ: FB), Amazon.com (NASDAQ: AMZN), Netflix (NASDAQ: NFLX) and Alphabet (NASDAQ: GOOGL) also closed lower.

Morgan Stanley cut its price target at Apple (NASDAQ: AAPL) to $ 236 from $ 253, citing supply chain conversations in Asia which revealed a weaker background for smartphone demand. That is the third Apple price cut this week after cuts by Rosenblatt and HSBC, sending Apple stock prices more than 3% lower.

Meanwhile, Energy struggled to take advantage of the oil price rally, which has followed an agreement by OPEC and its allies to cut production by 1.2 million barrels per day during the first six months of 2019.

Ulta Beauty (NASDAQ: ULTA) slumped 13%

Early in the Wall Street session was disrupted by US labor market reports which showed the economy created fewer jobs than expected and wage growth fell far short of expectations.

Analysts at CIBC, however, said the report was “constructive,”.

paving the way for a December rate hike, adding that the decline in employment increases was not surprising as the economy approached full employment.

In front of company news, Ulta Beauty (NASDAQ: ULTA) slumped 13% as disappointing guide and worries over margin pressure

Wall Street fell, the biggest weekly loss index since March

Wall Street’s main index fell more than 2 percent on Friday in a massive internet-led sellout and technology shares and posted its biggest weekly percentage decline since March as fears over US trade tensions and interest rates spurred Wall Street.

The S & P 500 erased almost all of its profits from the previous week when the benchmark index posted its biggest weekly gain in seven years.

Shares through Washington and Beijing were in talks in Argentina, the shares had changed throughout the week as investors over the stock market would disappear.

Concerns over US-China trade relations were banned by advisor trade white house.

Peter Navarro that US officials would raise rate if the two countries could not reach an agreement for 90 days.

Along with trade, Wall Street has focused on bond yields and the direction of the Federal Reserve’s interest rate policy

Government data showed US job growth slowed in November and wages increased less than expected.

Show economic activity that can support hopes of a smaller interest rate increase from the Fed in 2019. The Fed will meet December 18-19.

"People expect stronger labor market reports," said Charlie Ripley, senior market strategist for Allianz (DE: ALVG) Investment Management in Minneapolis. "It's a little weaker on the margins but even so it will give the Fed some food to think about because of they ... debate how they will shape policy for the coming year."

Energy stocks (SPNY) fell 0.6 percent, supported by rising oil prices due to Saudi Arabia and  OPEC member.

Agree to reduce produce output to support the market.

In a closely watched initial public offering, shares of Moderna Inc. (O: MRNA) fell 19.1 percent.

Issues that plummeted exceeded the number advancing on the NYSE with a ratio of 2.08-to-1; on the Nasdaq, a 2.63-to-1 ratio benefits decliners.

The S & P 500 posted 13 new 52-week highs and 38 new lows; The Nasdaq Composite recorded 12 new highs and 238 new lows.

On Thursday, 1,322 shares made fresh 52-week lows on the Nasdaq and NYSE on Thursday, the most since January 2016.

Source Investing, Reuters

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