Worsening trade tensions between US and China rattle stock market, sending Dow Jones Industrial Average down 473 points.
FILE - In this April 11, 2019, file photo trader John Panin works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Tuesday, May 7. An escalating showdown between the U.S. and China over trade sent shudders through the stock market, handing the S&P 500 is biggest loss since late March.
Stocks are falling sharply on Wall Street as the U.S. and China move closer to an escalation of their trade fight.Technology companies, which rely heavily on trade with China, bore the brunt of the selling on Tuesday. Apple lost 2.1% and Microsoft gave back 2.2% Stocks are falling sharply on Wall Street as the U.S. and China move closer to an escalation of their trade fight.
China’s top economic official will travel to Washington this week ahead of a Friday deadline by which Washington said it would sharply raise tariffs on Chinese goods.The S&P 500 fell 48 points, or 1.7%, to 2,883.
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