Dow plunges 500 pts on US-China trade tensions

Markets 12/6/2018, 3:58 PM
Dow plunges 500 pts on US-China trade tensions

The Dow Jones plunged 500 points on Thursday shortly after Wall Street opened deeply in the red amid the market selloff caused by the persisting trade worries amid tensions between the US and China. A broad selloff which started on Tuesday, before the one-day break in trading due to the state funeral of former US President George H.W. Bush was triggered by fears of a possible slowdown of the US economy are still lingering, as well as concerns about the recent trade deal between Washington and Beijing. Meanwhile, the possibility of a global economic slowdown was leading the stocks into the negative territory.

The Dow Jones Industrial Average index lost 460 points at 4:04 pm CET, down 1.85% after hitting 500 points just minutes earlier while the S&P 500 declined 1.87%. The Nasdaq 100 was also in the red, dropping 1.88% at 3:57 pm CET.

The euro climbed 0.46% against the US dollar to sell for 1.1395 at 4:07 pm CET.

Breaking the News / VK



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