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
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)

(Newser) – 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. (Read more stock market stories.)

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