600 points?
U.S. stocks accelerated losses Tuesday afternoon and remained near session lows, building on the previous day’s decline after U.S. officials confirmed that tariffs on imported goods from China could be raised by the end of the week.
Read: With Trump threatening to tighten the trade screws, here’s a look at what tariffs have done so far Chinese investors appeared to take the latest developments in stride, while buyers in so-called haven securities nudged the value of assets perceived as safe slightly higher. Mylan NV MYL, -22.81% shares fell more than 19% Tuesday, after the drugmaker reported a revenue shortfall that offset a profit beat.
Crocs Inc. CROX, -4.55% stock fell 0.7% Tuesday, after the footwear manufacturer reported first-quarter earnings and revenue that beat expectations. “If the talks fall through, it will cast the markets back into the big unknown and the recent joy-fest will come to a halt. If the Fed turns even more dovish — and we all know the president and advisers are hounding them to move this direction — then that liquidity should keep things from unwinding too fast,” he added.
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