Stocks racked up more losses on Wall Street Tuesday as a trade war between the United States and its key trading partners escalated, wiping out all the gains since Election Day for the S&P 500.
The benchmark index fell 1.2 percent and the Dow Jones Industrial Average shed 670 points, or 1.6 percent, The Nasdaq slipped 0.4 percent despite a rebound in big tech stocks such as Nvidia.
The burgeoning trade war between the United States, China, Canada and Mexico is helping to extend a recent slump for U.S. stocks. Shares of Target and Best Buy fell after the retailers warned of pressure on sales and higher prices for consumers.
On Tuesday:
The S&P 500 fell 71.57 points, or 1.2 percent, to 5,778.15.
The Dow Jones Industrial Average fell 670.25 points, or 1.6 percent, to 42,520.99.
The Nasdaq composite fell 65.03 points, or 0.4 percent, to 18,285.16.
The Russell 2000 index of smaller companies fell 22.70 points, or 1.1 percent, to 2,079.53.
For the week:
The S&P 500 is down 176.35 points, or 3 percent.
The Dow is down 1,319.92 points, or 3 percent.
The Nasdaq is down 562.12 points, or 3 percent.
The Russell 2000 is down 83.54 points, or 3.9 percent.
For the year:
The S&P 500 is down 103.48 points, or 1.8 percent.
The Dow is down 23.23 points, or 0.1 percent.
The Nasdaq is down 1,025.63 points, or 5.3 percent.
The Russell 2000 is down 150.63 points, or 6.8 percent.
The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
