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Stocks Extend Losses on Wall Street

Dow ends day down 313
By Newser Editors and Wire Services
Posted Oct 8, 2019 3:16 PM CDT
Trader Jonathan Corpina works on the floor of the New York Stock Exchange, Tuesday, Oct. 8, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks are ending lower on Wall Street as tensions ratchet up again between the US and China just before the two sides are set to meet again to discuss trade, the AP reports. Technology companies and banks took the worst of the losses Tuesday. Qualcomm, a chipmaker which relies heavily on sales to China, fell 4.6%. Bank of America gave back 2.4%. Safe-play sectors like utilities held up better. The losses came after the US blacklisted certain Chinese tech companies, saying they are helping Beijing repress Muslim minority groups there. The S&P 500 fell 45 points, or 1.6%, to 2,893. The Dow Jones Industrial Average lost 313 points, or 1.2%, to 26,164. The Nasdaq lost 132 points, or 1.7%, to 7,823. (Read more stock market stories.)

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