The Dow plunged more than 600 points as worries about the repercussions of the trade spat with China weighed on equity markets around the globe
China hiked tariffs on $60 billion of imports from the United States. It first imposed the tariffs last year.Worries over the escalation of the trade spat with China just aren't going away.US stocks ended the day sharply lower. The Dow closed down 617 points after falling as much as 719 points earlier in the day. The S&P 500 fell 2.4% and the Nasdaq dropped 3.4%. The Dow and S&P 500 had their worst day since January 3, according to Refinitiv.
Stocks recovered on Friday after Trump and Treasury Secretary Steven Mnuchin called last week's talk with Chinese negotiators"constructive." Still, the Dow ended the week 2.1% lower, making its worst week since March.Over the weekend, Trump tweeted extensively about the trade spat, calling US companies to produce goods domestically to avoid tariffs and that a trade deal will get worse for China if negotiations dragged on past the presidential election in 2020.
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