Trade war fears weigh on Wall Street
Fears over a trade war continued to rock Wall Street as China promised $3 billion in tariffs on U.S. goods. So which U.S. companies are at risk? Apple could be hit the hardest with 20% of its profits last quarter coming from China. Boeing sales there brought in $12 billion, and Starbucks says 14% of its sales came from China and sales there are growing at a faster pace than in the U.S.
Even though tech stocks are still on edge after the Facebook data scandal, investors are taking a look at the Dropbox IPO. The data storage company bumped up the price of shares in its initial public offering to $21. That's the second hike for the company, which had set a range of $16 to $18. The bumped-up price for the stock shows strong demand.
And Kroger recently announced it will hand off some of its tax cut benefits to employees. The company says it plans to boost the pay of its employees and offer more benefits. The company also says customers can expect lower prices at the checkout line.