Stocks Tumble Amid Trade Jitters

(AP) – Stocks took a nosedive on Wall Street as investors worried that a U.S.-China trade truce reached over the weekend wasn’t all it was cracked up to be.

The Dow Jones Industrial Average sank almost 800 points Tuesday.

Boeing and Caterpillar, two major exporters which would have much to lose of trade tensions don’t ease, weighed the most on the Dow.

Bond prices soared, sending yields lower, as traders shoved money into lower-risk investments.

The sharp drop in yields hurt banks because it makes it harder to earn money from lending. JPMorgan Chase sank 4.5 percent.

The S&P 500 lost 90 points, or 3.2 percent, to 2,700.

The Dow dropped 799 points, or 3.1 percent, to 25,027. The Nasdaq fell 283 points, or 3.8 percent, to 7,158.

SHARE

RELATED CONTENT

SUV Strikes Wall Outside Governor’s Mansion Tensions Escalate In Persian Gulf Governor Compiles “Preliminary” Infrastructure Plan Three Peoria Men Accused In Connection With Theft Of Nearly 100 Guns Governor Compiles Infrastructure Plan Trump Playing Down Threat Of War With Iran
Comments