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Stocks fell on Thursday while investors also fretted over U.S.-China trade negotiations.
The Dow Jones Industrial Average dipped 63.37 points to begin Thursday at 25,639.52
The S&P 500 lost 6.06 points to 2,804.86
The NASDAQ Composite gave back 14.01 points to 7,629.40. Facebook shares were among the big decliners, sliding 2% after a worldwide outage of its core app, Instagram and WhatsApp.
Apple shares rose more than 0.8% after Cowen initiated coverage of the company with an outperform rating and a $220 price target. Cowen cited potential long-term upside from Apple's services business.
Snap, meanwhile, rallied more than 7% after BTIG analyst Richard Greenfield — a longtime skeptic of the social media company — upgraded the stock to buy for the first time.
General Electric seesawed after the industrial giant issued weaker-than-expected earnings guidance for 2019. The stock initially fell around 4% in the pre-market before turning around to trade 2.7% higher.
Media reports are circulating that China and the U.S. are trying to push back a meeting between the countries' two leaders from late March to April at the earliest. This comes after Trump said he was in no rush to form an agreement. Bloomberg's report comes after China's industrial output expanded at its slowest rate in 17 years.
Investors expected the two leaders to meet at Mar-a-Lago later this month as both sides claimed progress was being made on trade negotiations.
Prices for the benchmark 10-year U.S. Treasury were unchanged, keeping yields at Wednesday’s 2.61%.
Oil prices acquired 43 cents to $58.69 U.S. a barrel.
Gold prices lost $13.90 to $1,295.40 U.S. an ounce.
