Dow Jones dives more than 600 points over trade war fears

Chinese employees making toys for export at a factory in in east China's Jiangsu province

"The general sentiment in equity markets has certainly shifted to one of caution, so I think today is one of those days where the news certainly wasn't new by any stretch, but the potential that this protectionist rhetoric will eventually spill into something a little more widespread in terms of a trade war continues to worry equity markets". Technology stocks were the biggest drags of the day; the sector lost 2.6%, with Google-parent Alphabet Inc. down 3.1% and Microsoft Corp. shedding 3.3%.

Copper rose 2 cent to $3.05 a pound. (NFLX) up 1.7% and Tesla Inc. The blue chip Dow Jones Industrial Average closed at 24103.11, up 2.4%. Losses were widespread across all 12 sectors of the market, with consumer goods (2.8 percent), technology (2.4 percent) and financials (2.1 percent) taking the hardest hits.

Asian stocks fell for a second day Tuesday amid jitters about U.S.

Meanwhile Amazon, which isn't officially classified as a technology company, has come under fire from President Donald Trump, who has griped about the company's tax payments, deals with the U.S. Postal Service, and other issues.

Facebook stock also continued to fall Monday (2.75 percent) as the social network faces scrutiny over its sale and collection of user data.

The Dow Jones Industrial Average fell ~0.8% to 23,912, while the S&P 500 index declined ~0.9% to 2,616.

With the S&P 500 in a 10 per cent correction from its record high in late January, investors were increasingly concerned a nine-year bull market might be in danger of ending.

"The mood remains decidedly bearish, and there is certainly no shortage of reasons to be fearful", said Chris Beauchamp, chief market analyst at IG.

The S&P 500 index skidded 58.99 points, or 2.2 percent, to 2,581.88.

The price of gold climbed 1.2 percent to $1,343.60 an ounce and silver jumped 2 percent to $16.60 an ounce as some investors took money out of stocks and looked for safer investments.

Specialist Peter Giacchi, left, calls out prices before Spotify's IPO on the floor of the New York Stock Exchange, Tuesday, April 3, 2018. They were down 5.1 percent on Monday afternoon. The yield on the 10-year Treasury note fell to 2.72 percent from 2.74 percent after a sharp decline last week.

The dollar edged down to 105.87 yen from Monday's 105.89 yen as currency traders shifted money into the Japanese currency, seen as a haven in times of market turmoil. He then proceeded to exempt most major US trading partners from the levies, leaving the bulk of the measures aimed squarely at Beijing. The euro edged up to $1.2308 from $1.2306. The Nasdaq composite increased 18 points, or 0.2 per cent, to 6,887.

A barrel of US crude gained 50 cents to $63.51 in NY while Brent crude, used to price global oils, rose 48 cents to $68.12 a barrel in London. Natural gas picked up 1 cent to $2.70 per 1,000 cubic feet.

Related News:

  • Fortnite Mobile is Now Available to the Public on iOS

    Fortnite Mobile is Now Available to the Public on iOS

    This Vending Machine will provide an easy path to quickly match up the new weapon and can purchase them in the middle of the game. In any case, this new development officially opens the mobile game up to all of the possibilities associated with the title.
    AAA, Hertz team up to reduce distracted driving

    AAA, Hertz team up to reduce distracted driving

    That study was conducted between 2012 and 2016, before the state implemented its hands-free law in October 2017. During April drivers will see an increased law enforcement presence on the roadways.
    Zuckerberg on Tim Cook:

    Zuckerberg on Tim Cook: "Not at all aligned with the truth".

    He suggested that regulators should limit the amount of personal data that firms like Facebook can utilize. The company also placed ads in Britain and the US apologizing for a "breach of trust".
  • Fox could separate Sky News to satisfy United Kingdom  regulator on takeover

    Fox could separate Sky News to satisfy United Kingdom regulator on takeover

    It added: "The divestment of Sky News to Disney is separate from, and not conditional on, Disney's acquisition of Fox". Murdoch previously planned to buy the 61 percent of Sky that Fox doesn't own to sell Fox's media businesses to Disney.
    EPA chief secretly gave huge raises to longtime aides

    EPA chief secretly gave huge raises to longtime aides

    The White House has launched a formal inquiry into Pruitt's living situation when he first moved to Washington, D.C., last year. Democrats have asked the EPA Inspector General to look into the agreement, which has put Pruitt in the unwelcome spotlight.
    Steven Bochco: Brains Behind 'LA Law' And 'NYPD Blue' Dies Of Cancer

    Steven Bochco: Brains Behind 'LA Law' And 'NYPD Blue' Dies Of Cancer

    After attending New York University and Carnegie Mellon University, he went on to write several series for Universal Studios. From hand-held cameras to bare-assed shower shots, his shows pushed television boundaries in both style and content.
  • Teachers in Oklahoma, Kentucky go on strike, demanding higher wages

    Teachers in Oklahoma, Kentucky go on strike, demanding higher wages

    Though state lawmakers approved a measure last week raising teachers' pay, those who rallied at the capitol said it wasn't enough. If you need financial help, they said to call the Department of Human Services because you could qualify for assistance.
    Designer of Schlitterbahn slide that decapitated boy arrested at DFW

    Designer of Schlitterbahn slide that decapitated boy arrested at DFW

    Henry's desire to "rush the project" and a lack of expertise caused the company to "skip fundamental steps in the design process". The raft Caleb was riding went airborne, hitting a pole and netting created to keep riders from being thrown from the ride.
    Sinclair Anchors Forced To Echo Trump's 'Fake News' Rhetoric

    Sinclair Anchors Forced To Echo Trump's 'Fake News' Rhetoric

    More alarming, some media outlets publish these same fake stories-stories that just aren't true-without checking facts first. What: A frightening look at the scourge of "false news" warnings invading local news broadcasts, courtesy of Sinclair Media.
  • Russo Brothers Ask Fans Not To Spoil 'Avengers: Infinity War'

    Russo Brothers Ask Fans Not To Spoil 'Avengers: Infinity War'

    It was originally scheduled to open in many overseas markets on April 27 while the US would have to wait until May 4. In addition to very few preview screenings, the film is also getting released in U.S.at the same time as the U.K.
    Trump sues California over sales of United States  lands

    Trump sues California over sales of United States lands

    The California legislature concluded , however, that "this bill does not violate the property clause of the U.S. Brown for pardoning five illegal immigrants who are facing possible deportation.
    Apple may use own chips for Macs from 2020

    Apple may use own chips for Macs from 2020

    The Intel Corporation has the market capitalization of $250.35B. (NASDAQ:FB) on Thursday, February 1 with "Hold" rating. Smithbridge Asset Management Inc bought 19,383 shares as the company's stock rose 9.61% while stock markets declined.


Most liked

Queen's husband Prince Philip hospitalized for hip surgery
He was absent from the Easter Mattins Service at St George's Chapel where Meghan Markle and Prince Harry will Wednesday in May. Philip's surgery comes after he was forced to miss out on numerous events over the Easter period due to problems with his hip.

Panera Bread's website exposed customer data for months, report says
Often, in fact, the response to a security breach will be more critical to your company's brand than the incident itself. The security issue , also published in detail on PasteBin , suggests that an unauthenticated API endpoint is at fault.

Weather Authority: Another winter storm ahead
Strong and gusty winds will develop through the day across North Iowa with gusts over 40 miles per hour possible by the afternoon. Moderate to locally heavy snowfall is likely, along with gusty winds, which will create blowing snow and reduced visibility.

Liverpool's Van Dijk relishing Man City test
Leroy Sane scored with a scorching volley, before Gabriel Jesus and Raheem Sterling both got in on the act for the visitors. I never like a manager [to] think 'what is a bad result?' I focus on the performance, on what we have to do.