Trump's Trade Threats Impact Wall Street as Netflix Shares Plummet

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Trump's Trade Threats Impact Wall Street as Netflix Shares Plummet
Photo: Richard Drew/AP-TT

Leading indexes on the stock exchange in the USA fell on Wednesday. Heavy weight was Netflix.

The streaming service's share price plummeted after the company the day before presented a quarterly report that did not meet the analysts' forecasts. Netflix, which until Wednesday had risen 39 percent this year, now fell 10 percent.

Several of the IT giants on Wall Street lost ground after a new report revealed that President Donald Trump is considering restricting the export of software to China. Apple and Nvidia declined 1.6 and 0.5 percent, respectively.

Among the winners was Boston Scientific after the biotech company reported higher profits than expected in its quarterly report. The share price rose 4.0 percent.

The broad S&P 500 index fell 0.5 percent, the Dow Jones industrial index declined 0.7 percent, and the Nasdaq's technology-heavy composite index lost 0.9 percent.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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