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Wednesday Brings Another Ugly Start on Wall Street

Dow was down more than 500 points in early trading
By Newser Editors and Wire Services
Posted Aug 7, 2019 9:06 AM CDT
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Trader Gregory Rowe works on the floor of the New York Stock Exchange, Monday, Aug. 5, 2019. Stocks plunged on Wall Street Monday on worries about how much President Donald Trump's escalating trade war with China will damage the economy.   (AP Photo/Richard Drew)

(Newser) – "August swoon resumes on Wall Street," proclaims CNBC's headline as the Dow plunged more than 500 points early Wednesday as fearful investors dumped stocks and shoveled money into bonds. The Dow is down about 510 points as of this writing. Bond prices continued to rise sharply, sending yields to their lowest level in nearly three years. The 10-year yield dropped to 1.62% from 1.74% late Tuesday, a large move, reports the AP. Markets have been volatile this week after Washington and Beijing raised the stakes in their trade war. China allowed its currency to weaken after the US said it would raise more tariffs on Chinese goods. (Read more stock market stories.)

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