The Dow tumbled more than 500 points in Monday morning trading after China planned to hike tariffs on U. S. goods, signaling an escalation in the trade…
The Dow tumbled more than 500 points in Monday morning trading after China planned to hike tariffs on U. S. goods, signaling an escalation in the trade war between the two nations.
The Dow Jones industrial average dropped 566 points, or 2.2%, to 25,372 in early trading, while the Standard & Poor’s 500 index lost 67 points, or 2.3%, to 2,813. The tech-heavy Nasdaq, which has been the most vulnerable to trade tensions, plunged 243 points, or 3.1%, to 7,674 Monday morning.
China said Monday that it plans to increase duties on $60 billion of goods it imports from the U. S., largely agricultural products, starting June 1 in a retaliatory measure against higher tariffs imposed by the White House last week.
