Major stock market indexes in the United States closed lower on Tuesday after scoring staggering gains earlier in the session amid the White House's reported plan to slap a 104% duty on Chinese exports effective midnight, seemingly worrying investors in the companies that rely on manufacturing products or importing assembling parts from the Asian country.
The Dow Jones Industrial Average sank by 0.84% or 319 points after plummeting by more than 800 points moments earlier as Apple Inc. lost 4.98%. The Nasdaq 100 slid by 1.95% or 340 points, with MicroStrategy Inc. slumping by 11.26%. The S&P 500 nosedived by 1.57% as Abermarle Corporation decreased by 12.63%.
The euro increased by 0.44% against the dollar at 3:58 pm ET to sell for $1.09571.
