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Tech Stocks Lead Declines on Wall Street

Dow ends day down 285
By Newser Editors and Wire Services
Posted Sep 3, 2019 3:16 PM CDT
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In this Aug. 21, 2019, file photo trader Jeffrey Vazquez works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Technology companies led stocks broadly lower as disappointing economic data and the latest escalation in the US-China trade war put investors in a selling mood, the AP reports. The sell-off Tuesday came as markets opened after a long weekend to expanded tariffs between Washington and Beijing and little sign that talks would restart soon. Chipmakers, which rely heavily on sales to China, came under pressure. Qualcomm sank 3.4%. Boeing dropped 2.7% after United Airlines and American Airlines took steps to delay until December the expected return of the 737 Max jets. The S&P 500 fell 20 points, or 0.7%, to 2,906. The Dow Jones Industrial Average fell 285, or 1.1%, to 26,118. The Nasdaq lost 88, or 1.1%, to 7,874. Bond prices rose. The yield on the 10 year Treasury fell to 1.47%. (Read more stock market stories.)

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