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Home / Business / Dow plunges 800 when trade war flares

Dow plunges 800 when trade war flares



NEW YORK (AP) – The latest on financial market developments (all time local):

14:30

Stocks plunge on Wall Street after China let the currency sink to its lowest level for more than one decade, escalating its trade war with the United States

The Dow Jones Industrial Average dropped 800 points on Monday, or 3%, the worst year of the year.

Technology companies and banks fell the most. Apple and Bank of America each fell 5%.

Bond prices rose sharply and sent returns significantly lower as investors sought security.

China's central bank allowed the yuan to fall below seven per dollar. Investors are concerned that Beijing is using its currency as a weapon in its Washington trade deal.

Dow lost 850 points, or 3.2%, to 25,629.

The S&P 500 fell 93 points, or 3.2%, to 2837. Nasdaq fell 309 points, or 3.9%, to 7,694.

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1:45 am

Stocks fall sharply on Wall Street after China lowered the currency to its lowest level in more than a decade, escalating the US-led trade match

Technology and financial stocks largest falls on Monday. Apple sank 4.5% and Bank of America fell 4.7%.

China's central bank allowed the yuan's exchange rate to fall below the politically sensitive level of seven per dollar.

Investors are concerned that Beijing is using its currency in an escalating trade war with US President Donald Trump.

The S&P 500 fell 68 points, or 2.3%, to 2,863.

The Dow Jones Industrial Average lost 601 points, or 2.3%, to 25,875. Nasdaq fell 244 points, or 3.1%, to 7,759.

Bond prices rose sharply. The return on the 10-year Treasury fell to 1.76%.

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9:35 am

Stocks fall sharply on Wall Street after China lowered the currency to its lowest level in more than a decade, escalating its trade battle with the United States

Industrial and financial shares let biggest falls early Monday. Apple sank 2.8% and Bank of America fell 3.5%.

China's central bank allowed the yuan's exchange rate to fall below the politically sensitive level of seven per dollar.

Investors are concerned that Beijing is using its currency in an escalating trade war with US President Donald Trump.

The S&P 500 fell 51 points, or 1.8%, to 2,880.

The Dow Jones industrial average lost 459 points, or 1.7%, to 26017. Nasdaq fell 185 points, or 2.3%, to 7,819.

Bond prices rose sharply. The return on the 10-year Treasury fell to 1.77%.


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