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Dow Extends Deep Losses, Triggered by Uncertainty on US-China Trade Deal

Posted December 06, 2018

Under Economic Issues, International Trade Issues

(Taylor Telford, Heather Long & Thomas Heath – Washington Post)

After a reprieve for a national day of mourning, U.S. stock markets on Thursday extended an across-the-board rout triggered by signs that the prospect of a U.S.-China trade deal was in jeopardy.

Investor angst was fueled by the arrest of a Chinese executive that further threatened progress on trade, coupled with omens of a recession in the bond market and a steep drop in oil prices.

In morning trading, the Dow Jones industrial average fell more than 750 points, or 3.1 percent. The tech-heavy Nasdaq was down 2.4 percent, pushing deeper into correction territory. Correction is a drop of at least 10 percent from the high. The Standard & Poor’s 500-stock index was off 2.9 percent. Click here to read more.