EDITOR'S NOTE
As May comes to a close, only a handful of Dow components are set to post gains for the month — another reflection of the U.S.-China trade war’s effect on Wall Street.
UnitedHealth, Pfizer, Travelers, Merck and McDonald's were the only names in the blue-chip index in positive territory for May as of Thursday. Intel, Caterpillar, Apple, 3M and Dow were the worst performers so far this month, CNBC’s Tom Franck reports.
The Dow has shed more than 5% in May as trade talks between the world’s two largest economies broke down and both sides raised tariffs. The White House has banned American technology companies from doing business with Chinese telecom giant Huawei, while Beijing has made veiled threats to curb its exports of rare earth metals to the U.S. China’s potential move has the ability to cripple high-tech firms that make cellphones and electric cars.
The trade tensions are stoking fears of a global economic slowdown and have sent traders running from companies with significant Chinese sales exposure, and into safe haven assets like Treasurys. TOP NEWS
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