Trade Worries Send Stocks Lower

Dow falls for 8th day in a row
By Newser Editors and Wire Services
Posted Jun 21, 2018 3:13 PM CDT
Trader Steven Kaplan works on the floor of the New York Stock Exchange, Tuesday, June 19, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks are closing lower as investors sold car makers and technology companies on fears the growing US-China trade dispute will hurt earnings, the AP reports. General Motors lost 2% and Tesla fell 4.1% Thursday after German automaker Daimler lowered its profit forecast, partly because of planned Chinese tariffs on cars imported from the US. Industrial companies like Boeing and Caterpillar also fell. Online retailers fell after the Supreme Court ruled that states can force more online shoppers to pay sales tax. Overstock.com skidded 7.2%. The Dow Jones industrials fell for the eighth day in a row. It lost 196 points, or 0.8%, to 24,461. The S&P 500 index lost 17 points, or 0.6%, at 2,749 and the Nasdaq composite dropped 68 points, or 0.9%, to 7,712. (Read more stock market stories.)

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