The markets extended its losses during the midday with the Dow losing 55 points to 24,301. Nasdaq fell 15 points to 7249.
A partnership between Walmart and Uber to deliver groceries efficiently and in a timely manner has ended. The UberRush on-demand delivery service will continue in four markets until the end of June. Walmart is exploring partnerships with alternative delivery services such as Deliv, DoorDash and Postmates.
China and the United States have accused each other of undermining the World Trade Organization. Deputy U.S. Trade Representative Dennis Shea said that China held an unrealistic fantasy of trade relations and that the WTO's Appellate Body was dysfunctional. China declared that U.S. trade tariffs and vetoing of new appointments to the Appellate Body were dangerous and devastating.
Google demonstrated a new reservations feature for its virtual assistant at its I/O developers conference. Google Assistant will be able to call hair salons or restaurants, engage in conversation with a person on the other line and schedule a hair cut or make dinner reservations. No official launch date has been announced.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 3 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 lost 8 points to 2,664. Bitcoin plunged $287 to $9,107.