Dow sinks 300 points on persisting trade uncertainty

Tuesday, 08. October 2019 16:10

Wall Street extended losses on Tuesday, continuing yesterday's trend, as investors remained wary about the uncertain outcome of trade talks between the US and China. Days ahead of the next round of talks in Washington, the US Department of Commerce decided to blacklist a number of Chinese companies and government agencies, among which the surveillance equipment giant Hikvision. Beijing immediately vowed to retaliate, lowering the prospects of reaching a highly-anticipated trade agreement once again.

The Dow Jones dropped 1.15% or 303 points at 10:10 pm ET. The tech-heavy Nasdaq 100 declined 1.17% at the same time. Meanwhile, the S&P 500 sank 1.20% a minute later.

The euro traded flat against the US dollar, changing hands for 1.09656 at 10:12 pm ET.

Related Links: 
Author:
Breaking the News / GG