Global Markets Sink Again as Tech and Retail Stocks Drop
The S&P 500 index lost 45 points, or 1.7 percent, to 2,645 as of . The benchmark index is now about 10 percent below the peak it reached in late September.
The Dow Jones Industrial Average sank 568 points, or 2.3 percent, to 24,442. The Nasdaq composite lost 184 points, or 2.7 percent, to 6,842. The Russell 2000 index of smaller-company stocks shed 29 points, or 2 percent, to 1,466.
Investors continued to flee the technology giants that have led the stock market higher in years past.
Tech stocks were among the biggest losers in
Investors looked for safer options. Utility companies managed small gains and bond prices edged higher. The yield on the 10-year Treasury note fell to 3.04 percent from 3.06 percent.
In
Stocks sank Monday as investors focused on simmering trade tension between
Presidents Donald Trump and Xi Jinping are due to meet this month at a gathering of the Group of 20 major economies. Investors didn’t react much as the trade dispute ramped up, but more recently they’ve gotten concerned it will drag on and hinder global economic growth.
Benchmark
The dollar fell to 112.40 yen from 112.54 yen. The euro fell to $1.14 from $1.1453.
AP Markets Writer Marley Jay can be reached at http://twitter.com/MarleyJayAP