Dow Jones Slumps as Intel Stock Gutted by 7nm Delay, Verizon Gains on Earnings Beat
The Dow Jones Industrial Average (DJINDICES: ^DJI) was down 0.55% at 11:50 a.m. EDT Friday as tensions between the U.S. and China heated up. In response to the U.S. ordering the closure of a Chinese consulate in Houston, China has ordered the closure of a U.S. consulate in Chengdu.
Dragging down the Dow on Friday was Intel (NASDAQ: INTC). Intel beat expectations with its second-quarter report, but investors did not react well to a delay related to the company's 7nm manufacturing process. Meanwhile, shares of Verizon (NYSE: VZ) headed higher after the company beat analyst estimates.
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Source Fool.com
