Wall Street falls as investors cautous on trade

Credit: Reuters Studio
Published on May 8, 2019 - Duration: 01:15s

Wall Street falls as investors cautous on trade

The S&P 500 fell Wednesday for the third day in a row.

As Fred Katayama reports, investors remained cautious about the latest developments on U.S.-China trade talks, and Intel shares slid.


Wall Street falls as investors cautous on trade

Stocks mostly inched lower in a choppy session on Wall Street Wednesday as China's top trade negotiator heads for Washington for trade talks amid threats of tariffs and retaliation.

The Dow ended flat; the S&P 500 declined for a third straight day.

Investors were hopeful after the White House said Beijing indicated China wants to make a trade deal but a late slide in Intel shares erased earlier gains.

Gerber Kawasaki CEO, Ross Gerber: SOUNDBITE: GERBER KAWASAKI CEO, ROSS GERBER, (ENGLISH) SAYING: "I think this is final posturing before a deal is actually struck because both Xi and Trump have so much riding on this deal and both need it very very badly.

So I'm hoping this is just final posturing, but if not, there's going to be a lot of problems in the global economy in the short term." Electronic Arts shares rose.

The videogame maker's quarterly revenue blasted past analysts' estimates.

It cashed in on the "Fortnite" game craze by launching a battel royale version of its "Battlefield V" game, CALLED "Apex Legends".

The biggest drag on the S&P 500: TripAdvisor.

The online travel company's quarterly revenue fell short of analysts' estimates.

After the bell, Disney shares rose 1 percent.

Quarterly profit and revenue rose, topping Wall Street's estimates, as more visitors flocked to its theme parks.

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