Stocks slipped on Wall Street as trade tensions escalate again with China. China’s Commerce Ministry took a swipe Donald Trump’s efforts to rebuild the shipbuilding industry in America.
Stocks slipped in morning trading on Wall Street Tuesday as trade tensions escalate again with China.
The S&P 500 fell 0.5%. The majority of stocks within the index gained ground, but big technology stocks with outsized values fell and offset gains elsewhere.
The Dow Jones Industrial Average fell 38 points, or 0.1%, as of 11:27 a.m. Eastern time. The Nasdaq composite shed 1%.
The slide marks another sharp twist for markets over the last few days. Wall Street tumbled on Friday for its worst day since April and bounced back on Monday for its best day since May. The swings were prompted by shifting trade sentiment between the U.S. and China.
The latest dip follows China’s Commerce Ministry banning dealings by Chinese companies with five subsidiaries of South Korean shipbuilder Hanwha Ocean, swiping at President Donald Trump’s efforts to rebuild the industry in America. European markets were mostly lower and Asian markets fell.
Technology stocks are particularly sensitive to trade issues involving China. Big chipmakers and other companies rely on China for raw materials and manufacturing. China’s large consumer base is also important for sales growth. Chipmaker Nvidia slumped 3.5%.
The ongoing trade war between the U.
