what s the story there. you know that s actually the big story at the beginning of the new month there have been reports that the federal trade commission is looking closer into the doings of facebook and we also got word that the justice department might start probes to just probe against companies like amazon or google or even apple and especially those tech shares really got hit hard at the beginning of the new week and month yes thank you for the moment welcome back to you shortly. boeing has admitted that faulty parts may have been installed on some of its $737.00 airliners the company has been under pressure since $2737.00 max planes crashed within months of each other killing almost 350 people the model has been grounded worldwide since march boeing s admission has post has pushed azerbaijan s state airline into postponing an order of 10 of the jets citing safety concerns.
is all that there is to that story certainly there s some urgent business interests in that too and looks a little bit to me like president trump might have heard from his old tech companies over the last 24 hours as well from google for example of course where oh who always a major customer but there s also of course the chip makers whether that is intel or silence or so it s a matter of fact about 70 percent in every who always smartphone comes from american companies of all the parts here and 2 that is definitely something a business that these companies don t necessarily want to lose that we see here playing out on the stock market. wall street of course over the last couple of hours with all the tech shares down quite a bit yesterday and they re coming back slowly today all right but the interesting thing is that sure why so far doesn t seem to bother either or about the battle in the 1st place and now the reprieve how come. you re that s right
insights and getting up early for us. thank you. thank you. now another sell-off on wall street. stocks in tokyo and seoul have been down most of the day. chinese markets in hong kong and shanghai have been in and out of positive territory. the dow dropped more than 550 points tuesday, wiping out all of its gains for the year. plunging oil prices pulled down energy stocks and analysts say investors are worried about rising interest rates and the ongoing trade war between the u.s. and china. cnn s alison kosik has more on what s behind the stock slide. reporter: all the major indices have wiped out their gains for the year. it s a headline that s undercut investor confidence and set the negative tone in the market. tech stocks dragged the market lower. ironic since it was tech shares like facebook, apple and google that powered the market to record highs over the last few years. but now it look likes the
darlings of yesterday have turned into the dogs of today. facebook and apple shares getting crushed. both stocks are down more than 20% from their recent highs. investors can t seem to sell tech shares fast enough. facebook is dealing with the fallout from how it handled foreign influence in the 2016 presidential election. and apple is facing slowing demand for its marquee products the iphone. investors are also spooked because there is a possibility for a regulatory crackdown that could change the way certain tech companies do business and cost them more money. also weighing on sentiment, trade tensions wrapping up. over the weekend, there was a collapse of preliminary meetings between the u.s. and china two weeks before president xi and president trump are expected to meet. but the thinking is the issue won t be resolved. and that that s as president trump has threatened to impose a third round of tariffs on $267 billion worth of chinese goods. and some tariffs already in place are s
any confidence in the market. secondly we have tech shares leading the charge in dragging down the broader market. it was the tech shares that powered the market higher over the past few years, sending the indeces to record highs. yesterday s darylings are today s dogs. they can t run fast enough. we are hearing about the regulation and a crack down on these companies that can really change the way they do business. i haven t even mentioned what else is simmering. trade tensions and talks and that is just before president xi of china. they are expected to meet at the g-20. things are not looking good as far as finding the resolution for the fed looking to continue and tighten and raise interest rates. what that does is slow down the economy.