Wall Street Today: Nasdaq Crashes 300 Points, Dow Jones Slips 200 Amid Fresh US-China Trade Tensions
Wall Street slides as US-China trade tensions resurface; Nasdaq drops 300 points, Dow falls 200, and S&P 500 dips amid global market jitters.
Wall Street indices plunge as renewed US-China trade tensions spark a global market sell-off, with Nasdaq tumbling over 300 points.
Global investors were on a risk-off attitude during the day as the fresh US-China trade tensions greatly impacted Wall Street, causing the major indices to end the day well below the zero line.
Before the market opened, the Dow Jones Industrial Average lost 195.7 points (0.42%) at 45,871.89, just as the S&P 500 surrendered 52.2 points (0.78%) and stood at 6,602.49. The Nasdaq Composite suffered the most with an enormous drop of 306.6 points (1.35%) down to 22,388.04 mainly as a consequence of the steep declines in the stocks of the big tech companies.
Analysts say investors are reacting to the news of escalating trade tensions and the possible imposition of new tariffs, which are, in turn, causing fears of the supply chains being disrupted and the corporate sector losing its growth rate. Besides this, the market sentiment was additionally influenced by the question of whether the Federal Reserve would or would not raise interest rates, given the ongoing inflationary forces.
With the increase in geopolitical uncertainty, investors seem to be moving from equities to safe havens like gold and treasury bonds, while the selling pressure on the major tech and semiconductor stocks was high.
