Dow Drops 458 Amid Trade War Fears

Stocks close sharply lower on Wall Street
By Newser Editors and Wire Services
Posted Apr 2, 2018 3:12 PM CDT
Dow Drops 458 Amid Trade War Fears
Specialist Thomas McArdle, left, works with traders John Panin, center, and Jeffrey Vazquez on the floor of the New York Stock Exchange, Monday, April 2, 2018.   (AP Photo/Richard Drew)

Stocks closed sharply lower on Wall Street as technology companies took heavy losses and investors worried about escalating trade tensions with China, the AP reports. Big-name tech companies like Microsoft fell more than the rest of the market Monday. Intel dove 6.1% following a report in Bloomberg News that Apple plans to start using its own chips in Mac computers as early as 2020 Tyson Foods dropped 6.2% after China raised tariffs on imported US goods including pork. The S&P 500 fell 58 points, or 2.2%, to 2,581, slightly above its low for the year reached February 8. The Dow Jones industrial average lost 458 points, or 1.9%, to 23,644. It was down as much as 758 earlier. The Nasdaq gave up 193 points, or 2.7%, to 6,870. (More stock market stories.)

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