Stocks Slump After Record Drop in Retail Sales, U.S.-China Tensions Rising, NYSE President Stacey Cunningham
b'Carl Quintanilla, Jim Cramer & David Faber discuss the fall in stocks on the back of a record plunge in U.S. retail sales.\\xa0Investors also keeping a close eye on rising trade tensions between China and the U.S.\\xa0The Trump administration moving to block semiconductor shipments to Huawei.\\xa0The Commerce Department said it would \\u201cstrategically target Huawei\\u2019s acquisition of semiconductors that are the direct product of certain U.S. software and technology.\\u201d\\xa0China biting back, the editor-in-chief of Chinese state-run publication Global Times, tweeting that China would \\u201crestrict or investigate\\u201d U.S. companies including Qualcomm, Cisco Systems and Apple if the U.S. takes further action against Huawei\\u2019s supply chain.\\xa0The New York Stock exchange announcing it will be reopening its trading floor after Memorial Day, with changes.\\xa0NYSE President, Stacey Cunningham joining the \\u201cSquawk on the Street\\u201d gang on her reopening strategy and precautions in the era of Covid-19.\\nPlus, shares of J.C. Penney were halted, people familiar with the situation telling CNBC, J.C. Penney\\u2019s advisors are working on a bankruptcy filing that could come as early as Friday morning.'