Wall St suffers worst losses of 2019 on US-China trade war

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Wall St suffers worst losses of 2019 on US-China trade war

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Stocks pushed lower and went lower still after Chinese media reported that Chinese firms have stopped buying US farm produce.

Wall Street stocks plunged on Monday after a forceful response by Beijing to the latest US tariff announcement escalated an ongoing trade war, exacerbating global growth worries. The Dow Jones Industrial Average sank 2.9 percent or around 770 points to 25,717.74 in the worst session of the year. The broad-based S&P 500 slumped 3.0 percent to 2,844.74, while the tech-rich Nasdaq Composite Index tumbled 3.5 percent to 7,726.04. Stocks opened sharply lower after China’s currency tumbled below 7.0 against the dollar, seen as a retaliatory step after US President Donald Trump announced last week he would impose 10 percent tariffs...


 


 


 

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