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US stocks are trading lower on weak Chinese data, chip stocks



US Stocks are trading lower on Friday after Chinese industrial production in May was below expectations.

Semiconductor stocks fall after Broadcom lowered its full-year revenue guidance, saying that US and China trading tensions and Huawei's export restrictions damaged the demand for chips

I: DJI DOW JONES AVERAGES 26049.98 -56.79 [19659007] -0.22% Change 1
9659013] I: COMP
NASDAQ COMPOSITE INDEX 7792.165028 -44.97 -0.57%

Chinese industrial production increased by 5, 5 percent year-on-year, the slowest growth rate of 17 years, and another sign that trade tensions are damaging growth.

US President Donald Trump said Tuesday that he had a trade agreement with China and had no interest in moving forward unless Beijing agreed to four or five "big points" that Trump did not specify.

Ticker Safety [19659005] Last Change % Chg
AVGO BROADCOM LIMITED 259.88 -21.73 -7.72% AAPL -7.72%


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