Wednesday Brings Another Ugly Start on Wall Street

"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. (More stock market stories.)