Stocks fell on Wall Street Friday as tensions flared again between the world’s two largest economies and jitters continued over the fallout from the coronavirus. Intel plunged after saying its development of a next-generation chip process would be delayed.
Overseas markets also fell after China ordered the closure of the U.S. consulate in the western city of Chengdu. The uncertainty helped gold rise to a record closing high of almost $1,900 an ounce, beating the all-time high it set in 2011.
The S&P 500 dropped 20.03 points, or 0.6%, to 3,215.63.
The Dow Jones Industrial Average slid 182.44 points, or 0.7%, to 26,469.89.