Stocks plunge on worries over trade

Marco Green
March 24, 2018

That development, investors say, is due to fears of a global trade war erupting on the back of tariffs and talk of further protectionist measures from the US administration.

Trump, according to a presidential memorandum he signed, will target the imports only after a consultation period.

Stocks plunged, sending the Dow Jones industrials down more than 700 points, as investors feared that trade tensions will spike between the USA and China. Today, when good news is reported, the Stock Market goes down. "Look the stock market's way up - when I came into office the stock market was from a different planet".

Still, major industrials companies stayed lower.

Boeing, Caterpillar and Microsoft all fell sharply.

From its high on January 26 at 26,616.71, the benchmark index has declined more than 2,600 points or almost 10 percent through Thursday's close at 23,957.89. Since Feb. 8, however - 43 days ago, as of this writing - he has been silent on the topic on Twitter.

The Dow Jones industrial average fell 360 points, or 1.5%, to its lowest level since November 22. The S&P 500 and global stocks have struggled to recover since the rout in early February.

U.S. Treasury prices also gained as investors stayed risk-averse.

On Friday, the Dow lost 426 points to close the week, down almost 1.8 percent - hitting its lowest level for the year. But Trump has been unique in the extent to which he has taken credit for the performance of the stock market a year ago.

Facebook Chief Executive Mark Zuckerberg said he was open to additional government regulation and happy to testify before the U.S. Congress. Facebook shares were down 2.5 percent.

Declining issues outnumbered advancing ones on the NYSE by a 2.53-to-1 ratio; on Nasdaq, a 2.56-to-1 ratio favored decliners.

Other reports by Click Lancashire

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