Stocks Tumble on New China Trade Fears

Dow ends day down 137
By Newser Editors and Wire Services
Posted Aug 30, 2018 3:16 PM CDT

(Newser) – Stocks are ending lower after Bloomberg News reported the Trump administration could move forward with $200 billion in tariffs on Chinese goods as early as next week, the AP reports. The news knocked stocks lower Thursday afternoon, ending a four-day rally that brought major U.S. indexes to record highs. Banks, retailers and technology companies did worse than the rest of the market. Makers of basic materials also fell. Dollar Tree plunged 15.5% after the discount retailer reported results that missed estimates. The S&P 500 index fell 12 points, or 0.4%, to 2,901. The Dow Jones Industrial Average lost 137 points, or 0.5%, to 25,986. The Nasdaq composite slid 21 points, or 0.3%, to 8,088. (Read more stock market stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.