stopping byHAPPYLUKE for about 10 minutes.

The company said the drop was due to an expectation that loan defaults by farmers will rise.Some said the move could make striking a trade deal with China more difficult.HAPPYLUKE

after the company said it expects trade tensions will continue to hurt sales and earnings in 2020.Chinas official news agency said the two sides had reached a consensus.Deeres stoHAPPYLUKEck price dropped nearly $8 on Wednesday.

it also cited trade uncertainty as the main reason for a recent drop in orders.Deerelaid off 160 employees in Illinois and Iowa amid fading demand for its farming equipment.

Construction equipment sales are expected to decline as much as 15% next year.

The companys total market value slid nearly $3 billion.Deere said that earnings at its lending division fell by 48% in its fiscal 2019.

Trump announces phase one of trade deal with China 35:43 The pessimistic outlook from Deere comes as farmers await the signing of a preliminary trade deal between the U.Many farmers have become cautious about making major investments in new equipment.

But that deal has yet to happen.The company said the drop was due to an expectation that loan defaults by farmers will rise.