Here are 3 good things to know about stocks right now
- Stocks fell sharply Monday after China said it would raise rates by as much as $ 60 billion US imports to as high as 25%.
- Apple (AAPL – Get Report) shares dropped more than 5% as investors were worried about the impact of China's rates on tech giant.
- Teva Pharmaceuticals (TEVA – Get Report) slumped after lawyers generally from more than 40 states charged the company with interactions to artificially inflate and manipulate drug prices.
Wall Street Overview
The shares went sharply after Monday after China said it would raise prices by as much as $ 60 billion US imports to as high as 25% after last week's breakdown trade talks between the world's two largest economies .
China said the tariff increase of about 5,000 product groups will take effect on June 1
The Dow Jones Industrial Average was down 583 points, or 2.25% to 25.358, S & P 500 was 2.35%, and Nasdaq fell 2.95%.
Insys Therapeutics (INSY – Get Report) shares fell 74% to 92 cents after the company considered it was considering filing for bankruptcy protection due to the financial burden of litigation related to its role in maintaining the opioid crisis in the United States.
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