US Stocks Tumble in Early Trade After Global Markets Slide
The latest wave of selling came as investors grew increasingly unsettled by the prospects for
Technology companies, banks and industrial stocks led the market slide on
The S&P 500 was down 54 points, or 2 percent, to 2,700 as of . The index is on course for its worst month in more than three years. The Dow lost 507 points, or 2 percent, to 24,809.
The Nasdaq slid 184 points, or 2.5 percent, to 7,285. The Russell 2000 index of smaller-company stocks gave up 30 points, or 2 percent, to 1,509. The index is now down for the year.
Bond prices rose, sending the yield on the 10-year Treasury note down to 3.13 percent from 3.19 percent late Monday.
The
Markets have been rattled in recent weeks by increased worries over the impact that rising interest rates, inflation and the escalating trade dispute between the
Trump has imposed tariffs on about $250 billion in Chinese imports, and
The two countries are locked in a dispute over
Shares of
Technology companies and banks also took heavy losses. Corning slid 5.9 percent to $29, while Citigroup fell 3.5 percent to $64.24.
Truck maker
Close to 17 percent of companies on the broad S&P 500 index have reported earnings for the third quarter, and over half of them did better than expected.
In
The European Union is worried that this would prevent
International credit rating agency Moody’s has downgraded
In
AP Economics Writer Paul Wiseman in