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Latest Tariff Threat Spooks Stock Market

Sell-off mostly impacts companies with heavy business interests in China
By Newser Editors and Wire Services
Posted May 6, 2019 3:18 PM CDT
In this March 18, 2019, file photo trader Craig Esposito, left, works with specialists Peter Mazza, center, and Vera Liu on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – New jitters over the possibility of an escalation in the costly trade war between the US and China pulled stocks broadly lower, the AP reports. The sell-off, which eased toward the end of the day Monday, came a day after President Trump threatened to raise tariffs on goods from China. Trump complained that the trade talks between the two countries are moving too slowly. Companies with heavy business interests in China bore the brunt of the selling. Chipmaker Micron Technology lost 2.8%. Banks also fell. Health care rose. The S&P 500 fell 13 points, or 0.4%, to 2,932. The Dow Jones Industrial Average fell 66 points, or 0.3%, to 26,438. The Nasdaq fell 40 points, or 0.5%, to 8,123. (Read more stock market stories.)

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