Trade Tensions Hit Markets: US stocks close lower amid heated tariff talk
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Wall Street has taken another tumble. Worries about President Trump's plans to hit Chinese imports with tariffs continues to weigh on the market.
Yesterday was the second day of big losses, giving US stocks their worst week in two years. The Dow Jones Industrial Average lost almost 425 points, or 1.8 percent, to 23,533, the lowest point since November. The S&P 500 index dropped 55 points, or over 2 percent, to 2,588. The S&P's financial sector was the S&P's biggest percentage loser, at 3 percent. The Nasdaq composite fell 174 points, or 2.4 percent, to just under 6,993. For the week, the Dow was down 5.67 percent, the S&P 500 was down 5.95 percent, and the Nasdaq was down 6.54 percent, marking their biggest weekly percentage falls since January 2016.