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Markets thrive as trade tensions flare



NEW YORK (AP) – The latest on developments in the financial markets (all times local):

16:00

The markets close significantly lower following the recent escalation of the US-China trade conflict. [19659002] President Donald Trump said US companies "are hereby ordered" to find an alternative to doing business with China after Beijing announced tariffs on US $ 75 billion of US goods.

Dow Jones Industries sank 623 points, or 2.4%. [19659002] Bond prices rose high, yielding lower returns. The return on the 10-year Treasury fell to 1.52%.

Technology companies, which have a lot to lose in the trade, fell the most. Apple fell 4.6%.

Trump also said he "ordered" UPS, Federal Express and Amazon to block supplies from China of opioid fentanyl. FedEx and UPS sank.

The S&P 500 fell 75 points, or 2.6%, to 2,847. Nasdaq dropped 239 points, or 3%, to 7,751

.

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13:08

Markets sink after president Donald Trump said US companies "are hereby ordered" to find an alternative to doing business with China after Beijing's recent tariff hike.

The Dow Jones Industrial Average dropped 500 points Friday after the president made announcements on Twitter.

Bond prices rose sharply, bringing yields lower. The return on the 10-year Treasury fell to 1.52%.

Technology companies, which have a lot to lose in the trade, fell the most. Apple fell 4.3%.

Trump also said he "ordered" UPS, Federal Express and Amazon to block deliveries from China of the powerful opiod fentanyl. FedEd and UPS sank.

Dow dropped 523, or 2%, to 25,729.

The S&P 500 fell 59 points, or 2%, to 2,863. Nasdaq dropped 194 points, or 2.4%, to 7,798.

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11:45 am

Shares fall sharply after President Donald Trump unleashed a verbal attack on China, saying he ordered US companies to find an alternative to doing business with the country. He also said he would respond to Beijing's recent tariff hike.

The Dow Jones Industrial Average dropped more than 400 points Friday after the president announced on Twitter. Bond prices also rose sharply.

Trump also said he ordered UPS, Federal Express and Amazon to block any supplies from China of the powerful opioid drug fentanyl. UPS and FedEx each fell 2.8%.

Technology companies, which have a lot to lose in the trade, fell the most. Apple falls 4%.

The Dow fell 426, or 1.6%, to 25,832.

The S&P 500 fell 1.7% and the Nasdaq lost 2.1%.

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11:13 am

Shares fall sharply on Wall Street after President Donald Trump said he would respond to China's latest tariff increase and asked US companies to consider alternatives to doing business in China.

Trump on Friday also ordered UPS, Federal Express and Amazon to block any supplies from China of the potent opioid drug fentanyl.

The Dow Jones Industrial Average sank more than 300 points after the president announced on Twitter.

The shares in all three companies mentioned by the president also fell as traders tried to understand what the consequences were for them.

Stocks had fluctuated between gains and losses earlier after China said it would retaliate against the recent US $ 75 billion tariff round introduced by Washington.

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09:35

Stocks open lower on Wall Street as traders respond to the recent escalation of the US-China trade war.

China said Friday it would retaliate against the latest round of tariffs imposed by Washington with tariffs on $ 75 billion US products.

Technology companies, which have a lot to lose in the trade battle with China, fell the most. Chipmaker Nvidia lost 2.2%.

Hasbro fell 5.9% after the toymaker announced a deal to buy the parent company of Peppa Pig for $ 4 billion.

The S&P 500 fell 13 points, or 0.4%, to 2,909. [19659002] The Dow Jones industrial average lost 116, or 0.4%, to 26,128. The Nasdaq fell 43, or 0.6%, to 7 945.

Bond prices rose. The return on the 10-year Treasury fell to 1.60% from 1.61%.


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