by Saeed Azhar and Shreyashi Sanyal

NEW YORK (Reuters) – The New York Stock Exchange ended in disarray on Monday, with investors preferring to remain cautious ahead of further talks in Washington on raising the US debt ceiling.

The Dow Jones Industrial Average fell 0.42 percent, or 140.05 points, to 33,286.58 points.

The broader S&P-500 edged down 0.02% to 4,192.63 points.

The Nasdaq Composite advanced for its part by 62.88 points (0.50%) to 12,720.78 points.

US President Joe Biden is due to meet again this Monday at 9:30 p.m. GMT with the Republican majority leader in the House of Representatives, Kevin McCarthy, about the ceiling on the federal debt of the United States, after the failure of previous talks on Friday.

The Treasury has warned that in less than two weeks, on June 1, the United States could find itself in default without raising this ceiling, a situation likely to cause a global storm on the financial markets.

Beijing’s decision, announced on Sunday, to ban Micron Technology’s memory chips in the main Chinese industrial sectors also weighed on the trend on Wall Street on Monday, raising fears of a new episode in the trade war between China and the States. -United.

Micron shares fell 2.85%, dragging other semiconductor giants like Qualcomm (-0.55%) and Broadcom (-0.57%) in its wake.

Apple dropped 0.51% after a lowering of the recommendation on the title by Loop Capital while, among the other digital giants, Alphabet (+ 1.87%) or Meta Platforms (+ 1.1%) on the other hand progressed .

Chevron, a component of the Dow, dropped 1.8% as the oil “major” announced plans to acquire PDC Energy (+7.2%) in a $7.6 billion deal.

(Written by Shreyashi Sanyal and Shristi Achar A in Bangalore and Saeed Azhar in New York; with Sinead Carew, Bertrand Boucey)

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