New York: The Dow’s losses deepened to three percent Friday afternoon as the latest round of tariff threats between the United States and China deepened fears of all-out trade war between the world’s largest economies.
US stocks opened lower and have continued to drop through the day. With about an hour remaining in the session, the Dow Jones Industrial Average was down three percent at 23,774.62.
The broad-based S&P 500 dropped 2.7 percent to 2,590.02, while the tech-rich Nasdaq Composite Index shed 2.6 percent to 6,891.01.
China said it was ready to pay “any cost” in a trade war after US President Donald Trump threatened an additional $100 billion in tit-for-tat tariffs on Beijing.
Source: Brecorder
