Staff and wire reports Published 6:11 PM EDT May 13, 2019 The Dow Jones Industrial Average plunged more than 600 points Monday as investors sought shelter from an escalating trade war between the U.S. and China. The selling was widespread and heavy, handing the benchmark S&P 500 index its biggest loss since January. The sell-off extended the market’s slide into a second week. The losses so far in May have now erased the market’s gains from April. Technology companies, which do a lot of business with China, led the way lower. Chipmakers were among the biggest decliners. Apple also took heavy losses, tumbling 5.8%. Farming equipment maker Deere drove losses in the industrial sector. The world’s two largest economies had seemed to be on track to resolve the ongoing trade dispute that has raised prices for consumers and pinched corporate profit margins. Hopes for a resolution had helped push the market to its best yearly start in decades. Those hopes are now replaced by concerns that a full-blown trade war could crimp what is otherwise a mostly healthy economy. “The larger issue with the tariffs isn’t the specific amounts of tariffs at any given time, but the uncertainty that’s surrounding… Read full this story
- METHANOL INSTITUTE STATEMENT ON U.S-CHINA PROPOSED TARIFFS
- China Says Tariffs Constitute 'Blackmail' As Trump Touts Success
- US, China raise tariffs in new round of trade dispute
- Futures Quiet As U.S., China Launch Tariffs; This Tech Set To Break Out
- U.S., China raise tariffs in new round of trade disputeYou may also be interested in...
- China announces tariffs on another $60B of US goodsYou may also be interested in...
- China plans tariffs on $60 billion of U.S. goods in latest trade salvo
- China retaliates with tariffs on $16 billion worth of U.S. imports
- China plans tariffs after latest US threat
- Dow jumps 200 points on tax overhaul optimism after Senate passes its bill
China retaliates on tariffs, Dow plunges 617 points have 325 words, post on eu.detroitnews.com at May 13, 2019. This is cached page on Business Breaking News. If you want remove this page, please contact us.