Facebook, Nike drag Wall Street lower; trade concerns linger

The Dow Jones Industrial Average fell 12.34 points, or 0.05 percent, to 25,952.48, the S&P 500 lost 4.8 points, or 0.17 percent, to 2,896.72 and the Nasdaq Composite dropped 18.29 points, or 0.23 percent, to 8,091.25.

US stocks fell on Tuesday as trade concerns lingered and declines in Facebook and Nike shares weighed on Wall Street’s major indexes, though data showing US manufacturing activity accelerated in August kept losses in check.

Facebook Inc shares fell 2.6 percent after brokerage MoffettNathanson downgraded the social media company, warning of revenue growth deceleration.

Shares of other technology companies, including Alphabet , Microsoft Corp and #Twitter Inc also slid, while the S&P 500 technology index dropped 0.3 percent.

Nike Inc shares fell 3.2 percent as the company faced a backlash after it chose Colin Kaepernick, the first NFL player to kneel during the national anthem as a protest against racism, to participate in a new ad campaign.

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Facebook, Nike drag Wall Street lower; trade concerns linger