U.S. Stocks Plunge on Concerns About Economy, Trade Talks with China

Japan Economic Newswire |

U.S. stocks sank on Tuesday over concerns about the future course of the country's economy and the prospect of U.S.-China trade negotiations.

The 30-issue Dow Jones Industrial Average declined 635.13 points, or 2.46 percent, to 25,191.30 at around , after briefly shedding more than 800 points.

The broader S&P 500 fell 66.07 points, or 2.37 percent, to 2,724.30, while the tech-laden Nasdaq Composite Index was down 196.60 points, or 2.64 percent, at 7,244.91.

Many investors turned risk-averse as concerns increased about the U.S. economy, triggering heavy selling across the board, brokers said.

U.S. President Donald Trump and Chinese President Xi Jinping agreed Saturday to a 90-day cease-fire in their trade war, in which the two countries will talk about technology and intellectual property rights issues.

Washington has threatened to raise existing 10 percent tariffs to 25 percent on $200 billion of Chinese goods if they fail to reach an accord.

==Kyodo

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

Level Headed at World Crypto Con - Steve Beauregard

Bloq.com CRO Steve Beauregard joins Jack Brewer at World Crypto Con.

Emerging Growth

Alliance Growers Corp

Alliance Growers Corp is a Canada based diversified cannabis company. The company is primarily focused on the development of Cannabis Botany Centres in Canada.