Stocks drop after China cancels Montana farm trip

Video Credit: Reuters Studio - Duration: 01:42s - Published
Stocks drop after China cancels Montana farm trip

Stocks drop after China cancels Montana farm trip

Wall Street fell on Friday after a decision by a Chinese agriculture delegation to cancel a planned visit to Montana farms fueled fears U.S-China trade talks aren't going well.

Conway G.

Gittens has the details.

A slide in markets Friday, after a low-level Chinese delegation abandoned plans to visit the Montana farmland.

That was enough to spark fear among investors that trade talks between the U.S. and China aren't going well, despite reassurances from President Trump, who said negotiations were ongoing.

The Dow slid 159 points, while the S&P 500 and Nasdaq moved lower.

It was a busy day for Facebook.

CEO Mark Zuckerberg wrapped up his three-day trip to Washington, but there were few indications he won over anyone on Capitol Hill.

Lawmakers are mulling over the idea of tightening the regulatory screws.

Mercadien Asset Management President Ken Kamen.

SOUNDBITE (ENGLISH): MERCADIEN ASSET MANAGEMENT PRESIDENT KEN KAMEN, SAYING: "Zuckerberg is on capitol hill to almost beg for the industry's benefit to start getting some regulations so they can get guardrails to know what they can and cannot do.

Because now there are so many things that social media is changing in our society, in the world, in our economics, how we live or lives, and you can throw a dart and hit anything that they are doing wrong.

So I think that the industry in general is looking to get some guidelines." Facebook is grappling with federal and state investigations over numerous issues ranging from anti-competitve behavior to privacy concerns.

On that issue, Facebook announced it has suspended tens of thousand of apps as a result of the probe it's been conducting since the Cambridge Analytica scandal revealed it handed over users' data without permission.

Walmart has decided to stop selling e-cigarettes and vaping products at its stores, according to an internal email seen by Reuters.

Vaping products have come under scrutiny after reports of vaping-related illnesses and some deaths.

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