Stocks sink as tariff deadline approaches

Friday, May 10, 2019, Vol. 43, No. 19

NEW YORK (AP) — Stocks recovered much of an early swoon and ended moderately lower as a midnight deadline approached for the U.S. and China to reach a trade deal.

Negotiators met in Washington Thursday. If they don't reach a deal, the U.S. has said it would raise its tariffs on $200 billion worth of Chinese goods as of 12:01 a.m. Friday.

Technology companies fell the most. Intel lost 5.3%.

The S&P 500 fell 8 points, or 0.3%, to 2,870. The index is headed for its biggest weekly loss of the year, and has given back all of the gains it made in April.

The Dow Jones Industrial Average lost 138 points, or 0.5%, to 25,828. It was down almost 450 points earlier.

The Nasdaq fell 32 points, or 0.4%, to 7,910.