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US Stocks Skid on Fresh Trade Fears

Dow sees lowest close since early May
By Newser Editors and Wire Services
Posted Jun 25, 2018 3:14 PM CDT
Specialist Michael Pistillo, left, and trader Thomas Ferrigno work on the floor of the New York Stock Exchange, Tuesday, June 19, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks are closing sharply lower as fresh trade worries hit stock markets around the world, the AP reports. Chipmakers sank amid reports the Trump administration will limit technology exports to China as well as investment by China. Micron Technology, which gets half its revenue from China, lost 6.6%. Harley-Davidson fell 6% after it said it will start building some motorcycles bound for Europe in factories overseas in response to tariffs by the EU. Bond prices rose. The yield on the 10-year Treasury note slid to 2.88%. The dollar weakened against several major currencies. The Dow Jones industrials slid 328 points or 1.3% to 24,253, its lowest close since early May. The S&P 500 index lost 37 points or 1.4% to 2,717, and the Nasdaq fell 161 points or 2.1% to 7,532. (Read more stock market stories.)

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