Stock sell-off provides new list of bargain stocks
Stocks continued to plunge on Thursday amid renewed concerns about the potential reignition of a U.S.-China trade war over the arrest of a senior Huawei telecoms executive.
Meng Wanzhou, 46, was arrested in Vancouver this week, but faces extradition to the U.S. Although the specific charge or charges against the daughter of Huawei’s founder were not disclosed, the U.S. is investigating the company for possibly violating American trade sanctions against Iran.
On Thursday, the Chinese foreign ministry spokesman Geng Shuang urged both the U.S. and Canada to clarify the reasons for detention and “immediately release the detained person,” according to the Guardian.
The international standoff triggered investor fears that a trade deal between the U.S. and China won’t go through after all. In late-morning trading, the Dow Jones Industrial Average dropped more than 700 points, dragging the blue-chip index into negative territory for 2018. The S&P 500 also fell into negative territory.
Here’s a look at some of the stocks that lost the most during this week’s volatility – and could be the best bargains.
Boeing Company: The aircraft maker led the plunge on Thursday, with stocks falling about 20 percent during the mid-trading slide, down to $322.13 from $329.10
Broadcom: Like other trade-related stocks, Broadcom suffered some big losses on Thursday, falling more than 10 percent to about $221 per share.
Amazon.com: Amazon shares plunged more than 8 percent as of 12 p.m. ET on Thursday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 164.34 | -4.83 | -2.86% |
| AVGO | BROADCOM INC. | 1,256.82 | +7.63 | +0.61% |
| AMZN | AMAZON.COM INC. | 176.59 | -2.95 | -1.64% |
| HOG | HARLEY-DAVIDSON INC. | 39.44 | -0.29 | -0.73% |
| DWDP | n.a. | n.a. | n.a. | n.a. |
Harley-Davidson: The motorcycle-maker’s stock fell more than 2 percent, to $39.70 per share.
DowDuPont: The chemical company fell more than 2 percent, to $53.38 per share.
FOX Business’ Charles Brady contributed to this report.