The stock market opened on a down note and finished in pretty much the same place, all thanks to investor worries about a possible trade war between the US and China. The Dow lost 287 points to finish at 24,700, enough to wipe out all 2018 gains, reports MarketWatch. The index, which fell for the sixth straight day, is now down 0.1% for the year. The other major markets also fell—the S&P 500 slipped 11, or 0.4%, and the Nasdaq slid 21, or 0.3%.
The problem for investors is that the threats about tariffs and retaliatory moves are only growing more heated between President Trump and Beijing, rather than de-escalating as many had hoped. “It’s mainly the trade war that has created such panic in the market because the latest developments have surpassed the expectations of many people in China,” a senior analyst at Central China Securities tells the Wall Street Journal. (Read more stock market stories.)