S&P 500 and Dow Jones Index fell on trade concerns

                                                                                    INQUIRY

      The S&P 500 index and the Dow Jones Industrial Average closed slightly lower in volatile trading Thursday, but far higher than their mid-market lows. The arrest of China's technology giant Huawei Chief Financial Officer (CFO) raised concerns about trade tensions between the United States and China, while some large-scale technology and Internet stocks that fell deeply rose.
After a rare mid-week closure in the United States, the stock market opened lower, with the S& P 500 index plunging 2.9%. But since noon, the stock market has pulled back the decline, and the Nasdaq index closed up.
"The market is oversold," said Gary Bradshaw, senior vice president and portfolio manager of Hodges Capital Management. "Investors have found that they can buy very good stocks at a much cheaper price than they did a few months ago."
Before the initial sell-off, there were reports that the chief financial officer (CFO) of Huawei, a telecommunications equipment supplier, was arrested by Canadian authorities and could be extradited to the United States.
Investors'enthusiasm had waned before the news broke. China and the United States agreed to a trade truce after their weekend meeting, which once gave some hope to the market that trade disputes would be resolved. Trade issues have clouded stock market prospects this year.


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