Explore the latest developments concerning China tries shock-and-awe.
Dow drops almost 900 points, S&P 500 declines the most since April after Trump's new China tariff threat
Stocks settled decidedly lower after a rapid decline on Friday following President Donald Trump's threat of higher tariffs on China, in which he accused the country of "becoming very hostile" with its restrictions on rare earth metals, a key resource for the tech and defense industries.
Stocks accelerated selling into the close, with the Dow Jones Industrial Average closing down 878.82 points, or 1.9%, at 45,479.60. The S&P 500 lost 2.71% to settle at 6,552.51, while the Nasdaq Composite fell 3.56% to 22,204.43. The broad-based index's decline was the largest since April 10. Prior to Trump's comments, stocks were sizably higher, with the Nasdaq hitting a new all-time intraday high.
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