Markets Right Now: Trade worries send stock market plunging
Posted Mar 22, 2018 7:41 am.
Last Updated Mar 22, 2018 2:41 pm.
This article is more than 5 years old.
NEW YORK, N.Y. – The latest on developments in financial markets (all times local):
4 p.m.
Stocks plunged, sending the Dow Jones industrials down more than 700 points, as investors feared that trade tensions will spike between the U.S. and China.
The Trump administration announced trade sanctions against China Thursday, and Beijing has said it will defend itself.
Industrial and technology companies, which depend heavily on foreign trade, took some of the worst losses.
Boeing, Caterpillar and Microsoft all fell sharply.
Bond prices surged as investors sought cover, sending yields lower.
High-dividend stocks like utilities, another safe-play investment, rose.
U.S. indexes had their worst drops since February 8.
The S&P 500 index dropped 68 points, or 2.5 per cent, to 2,643, erasing its gain for the year.
The Dow sank 724 points, or 2.9 per cent, to 23,957. The Nasdaq lost 178 points, or 2.4 per cent, to 7,166.
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3:40 p.m.
Stocks are plunging, sending the Dow Jones industrials down 700 points, as investors fear that trade tensions will spike between the U.S. and China.
The Trump administration announced trade sanctions against China Thursday, and Beijing has said it will defend itself.
Industrial and technology companies, which depend heavily on foreign trade, took some of the worst losses.
Boeing, Caterpillar and Microsoft all fell sharply.
Bond prices surged as investors sought cover, sending yields lower. That helped push bank stocks sharply lower too.
High-dividend stocks like utilities, another safe-play investment, rose.
The S&P 500 index dropped 68 points, or 2.5 per cent, to 2,643.
The Dow plunged 713 points, or 2.9 per cent, to 23,964. The Nasdaq composite sank 158 points, or 2.2 per cent, to 7,181.
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11:45 a.m.
Stocks are falling sharply and bond prices are climbing as investors fear that trade tensions will spike between the U.S. and China.
The Trump administration is expected to announce trade sanctions on China later Thursday, while the government in Beijing said it will defend itself.
Industrial and technology companies took some of the worst losses. Caterpillar dropped 3.6 per cent and Micron fell 3 per cent.
Stock indexes in Europe also fell sharply. Germany’s main index lost 2.3 per cent.
Investors bought government bonds, sending yields lower. That helped send bank stocks down.
The S&P 500 index skidded 42 points, or 1.6 per cent, to 2,668.
The Dow Jones industrial average plunged 448 points, or 1.8 per cent, to 24,233. The Nasdaq composite fell 129 points, or 1.8 per cent, to 7,215.
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9:35 a.m.
Stocks are opening lower as President Donald Trump is expected to impose trade sanctions on China.
The Trump administration is planning to announce tariffs on Chinese products Thursday as well as restrictions on Chinese investments.
Investors have worried about rising trade tensions after the administration announced tariffs on imported steel and aluminum.
Industrial and technology companies slumped. Boeing dipped 2.3 per cent and Caterpillar lost 1.9 per cent. Facebook slid 1.8 per cent.
Investors bought government bonds, sending yields lower. That helped send bank stocks lower.
The S&P 500 index skidded 22 points, or 0.8 per cent, to 2,689.
The Dow Jones industrial average lost 228 points, or 1 per cent, to 24,444. The Nasdaq composite fell 72 points, or 1 per cent, to 7,272.
