The major averages begin the day noticeably lower as the market remains fixed on trade tensions. The S&P 500 is down 0.9%, the Dow Jones Industrial Average is down 0.8%, and the Nasdaq Composite is down 1.8%.
Looking at the S&P 500 sectors shows information technology (-1.9%) leading the retreat, as semiconductor stocks underperform after many of them suspended business operations with China's Huawei Technologies. The Philadelphia Semiconductor Index is down 3.3%. The utilities sector (+0.3%) is the lone sector trading higher in the early going.
U.S. Treasuries are little changed despite the lower start in equities. The 2-yr yield is down one basis point to 2.20%, and the 10-yr yield is flat at 2.39%. The U.S. Dollar Index is down 0.1% to 97.94. WTI crude is up 0.2% to $63.02/bbl amid rising tensions between the U.S. and Iran.
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