June 25, 2018 / 12:01 PM / a year ago

RPT-BUZZ-U.S. stocks weekly: Tariff tantrum

(Repeats from Friday, no changes to text. Updates chart)

** S&P 500 falls for first time in five weeks, finishes down ~1 pct as U.S.-China trade tensions escalate

** Indeed, SPX and DJI see weak trade on the charts

** And DJI has its longest losing streak since Mar 2017 , though ended Fri at 8 straight

** Most sectors pout; industrials and materials kick and scream, while utilities, real estate and energy find succor

** Industrials sink 3.4 pct. General Electric booted from the Dow . Group clipped as President Trump exacerbates tensions with China , while FedEx's "complicated" Q4 report, trade fears test investor patience

** Materials down 2.1 pct. Agriculture and commodities gyrate on rising trade war fears

** Tech down 1.3 pct. Worst SPX stock Red Hat down nearly 20 pct on dismal forecast. Oracle falls on blurred cloud outlook. Intel drops as CEO resigns. Tech ETF sudden timidity may portend greater tumble

** Cons Discretionary off 0.7 pct. Starbucks brews biggest 2-day drop in 10 yrs as growth stalls and looks weak as water on the charts . Auto-related names skid as Daimler warns of profit hit from trade war, and President Trump threatens 20 pct tariff on EU cars. Online retailers slide after U.S. court ruling on sales tax , though Retail ETF tries to unleash stored up strength

** Energy rallies 1.5 pct. Oil jumps as OPEC agrees to modest output hikes

** SPX sector performance over past 12 mths: reut.rs/2MnVVSZ

** Meanwhile, BofA-ML says 10 pct import cost hike would mean 3-4 pct SPX EPS hit, and VIX Futures net short position at level last seen before Feb volatility shock

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