Stocks open flat on Wall Street and global shares were mixed as investor attention shifts to the uncertainties in global economies amid the coronavirus pandemic. Investors are disappointed after the U.S. Federal Reserve declined to signal more stimulus.
Men walk by screens showing Japan's Nikkei 225 index at a securities firm in Tokyo on Friday, Sept. 18, 2020. Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street.
The Dow Jones Industrial Average was down 118 points, or 0.4%, at 27,783, as of 9:54 a.m. Eastern time, and the Nasdaq composite was down 0.1%. Both drifted from small gains to losses shortly after trading began. Smaller stocks were still higher, with the Russell 2000 index of small caps up 0.3%.Analysts warned that the day’s trading could be even bumpier than usual.
Rising tensions between the world’s two largest economies are also continuing to keep markets on edge. The United States said on Friday that it will ban downloads of Chinese apps WeChat and TikTok on Sunday. But they suddenly lost momentum two weeks ago, causing the market to swing with them. Because these companies have grown so massive, their stock movements have huge sway over broad market indexes, such as the S&P 500.On Friday, several Big Tech stocks were swinging from gains to losses. Apple was down 0.8%, and Microsoft was down 0.5%, but Facebook was up 0.5%.
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