US STOCKS-Wall St falls after China's tough talk on trade

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* Pinterest plummets after 2019 revenue forecast disappoints
* Trade war will only make us stronger - China newspaper
* Under Armour gains after JPM upgrades to "overweight"
* Indexes down: Dow 0.35%, S&P 0.40%, Nasdaq 0.47%

(Updates to open)
By Amy Caren Daniel
May 17 (Reuters) - U.S. stocks slipped on Friday, after
three straight sessions of gains, as trade tensions were renewed
after Chinese media took a hardline approach to the tariff
dispute between the United States and China.
The trade war will only make China stronger and will never
bring the country to its knees, the ruling Communist Party's
People's Daily wrote in a front-page commentary. Beijing's higher tariffs on U.S. products on a $60 billion
target list will take effect on June 1, which could prompt
Washington to go ahead with tariffs on a further $300 billion
worth of Chinese goods. The two sides are expected to meet in China to resume talks
soon.
"Mounting trade worries and geopolitical tensions are
weighing on investors nerves," said Peter Cardillo, chief market
economist at Spartan Capital Securities in New York.
"The trade war tensions are overcoming the positive in
markets so investors are skeptical and markets are caught in a
trading range."
The escalating tensions between the world's two largest
economies led farm equipment maker Deere & Co DE.N to cut its
full-year forecast, sending its shares down 4.3%.
The drop in shares of Deere, as well as Caterpillar Inc
CAT.N and 3M Co MMM.N pressured the tariff-sensitive
industrial sector .SPLRCI , which was trading 0.7% lower.
Technology companies including iPhone maker Apple Inc
AAPL.O and chipmakers, which rely on China for a large portion
of their revenue, were also hit by trade fears.
Apple Inc AAPL.O fell nearly 1.2% also weighed down by
Nomura Instinet's price target cut on its stock, citing
headwinds from the tariff war.
The Philadelphia chip index .SOX slipped 0.2%, while the
broader technology sector .SPLRCT fell 0.4%, weighing the most
on the S&P 500.
All three major indexes have posted gains three days in a
row this week as upbeat quarterly results and a batch of strong
economic data helped ease worries of a global economic slowdown.
The S&P 500 index .SPX is now about 3% away from its
record high hit earlier this month.
At 9:42 a.m. ET, the Dow Jones Industrial Average .DJI was
down 90.51 points, or 0.35%, at 25,772.17, the S&P 500 .SPX
was down 11.56 points, or 0.40%, at 2,864.76 and the Nasdaq
Composite .IXIC was down 36.74 points, or 0.47%, at 7,861.31.
Among stocks, Applied Materials Inc AMAT.O gained 4.9%,
the most among S&P companies, after the chip gear maker's upbeat
third-quarter profit eased concerns about waning chip demand.
Under Armour Inc UAA.N rose 4.6% after JP Morgan upgraded
the sports wear maker to "overweight" from "neutral".
Online scrapbook company Pinterest Inc PINS.N slumped
13.7% after the recent Wall Street debutant forecast 2019
revenue broadly in line with Wall Street targets. on investors radar is the debut of Luckin Coffee Inc
LK.O , the Chinese challenger to Starbucks Corp SBUX.O .
Declining issues outnumbered advancers for a 3.56-to-1 ratio
on the NYSE and a 2.63-to-1 ratio on the Nasdaq.
The S&P index recorded three new 52-week highs and five new
lows, while the Nasdaq recorded 14 new highs and 39 new lows.