Day Traders Diary

5/20/19

The major averages finished in the red due to persistent U.S.-China trade uncertainty. The Dow Jones Industrial Average finished down 84 points at 25,679. The S&P 500 dropped 0.7% while the tech-laden Nasdaq Composite underperforms with a loss of 1.46%. After the US Department of Commerce made it more difficult to do business with Chinese firm, Huawei, many US companies cut ties with the company over the weekend including Google and a number of chip companies. Lumentum Holdings dropped 3% after cutting guidance sighting the firm will no longer be a supplier to Huawei. Tech companies with Chinese exposure like Apple traded lower on concerns of retaliatory actions.