Dow Plunges Nearly 800 Points

US stocks dive as trade jitters return
By Newser Editors and Wire Services
Posted Dec 4, 2018 3:16 PM CST
Dow Plunges Nearly 800 Points
In this Nov. 28, 2018, file photo trader Michael Milano works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Stocks took a nosedive on Wall Street as investors worried that a US-China trade truce reached over the weekend wasn't all it was cracked up to be, the AP reports. The Dow Jones Industrial Average sank almost 800 points Tuesday. Boeing and Caterpillar, two major exporters which would have much to lose of trade tensions don't ease, weighed the most on the Dow. Bond prices soared sharply, sending yields lower, as traders shoved money into lower-risk investments. The sharp drop in yields hurt banks because it makes it harder to earn money from lending. JPMorgan Chase sank 4.5%. The S&P 500 lost 90 points, or 3.2%, to 2,700. The Dow dropped 799 points, or 3.1%, to 25,027. The Nasdaq fell 283 points, or 3.8%, to 7,158. (More stock market stories.)

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