Markets Right Now: Renewed trade tensions send stocks lower | iNFOnews | Thompson-Okanagan's News Source
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Markets Right Now: Renewed trade tensions send stocks lower

Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Friday, April 6, 2018. Another increase in trade tensions has stocks reversing course and falling again Friday morning as the U.S. considers an even larger set of tariffs on imports from China. (AP Photo/Richard Drew)
Original Publication Date April 06, 2018 - 11:21 AM

NEW YORK - The latest on developments in financial markets (all times local):

4 p.m.

Another flare-up in trade tensions between the U.S. and China sent the stock market sharply lower for the second time this week.

The Dow Jones industrial average lost 572 points Friday, having traded down as much as 767. It fell modestly for the week.

Caterpillar dropped 3.5 per cent, the most in the Dow. Caterpillar and other industrial companies rely heavily on overseas sales and could suffer if commerce is curtailed by rising trade barriers.

The latest market swing came after President Donald Trump proposed tariffs on an additional $100 billion in Chinese goods.

The Dow recovered some of its worse losses to end down 2.3 per cent at 23,932.

The S&P 500 fell 58 points, or 2.2 per cent, to 2,604. The Nasdaq composite dropped 161 points, or 2.3 per cent, to 6,915.

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2 p.m.

Stocks are falling sharply again as trade tensions heat up between the U.S. and China.

The Dow Jones industrial average fell as much as 620 points in afternoon trading Friday, its latest big swing this week.

Aerospace giant Boeing fell the most in the Dow, dropping 3.4 per cent. Boeing and other industrial companies rely heavily on overseas sales and could suffer greatly if global commerce is curtailed by rising trade barriers.

Technology companies and banks also fell. Apple lost 2 per cent and JPMorgan Chase gave up 2.9 per cent.

The Dow fell 588 points, or 2.4 per cent, at 23,909.

The S&P 500 fell 56 points, or 2.1 per cent, to 2,607. The Nasdaq composite dropped 139 points, or 2 per cent, to 6,937.

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11:45 a.m.

Stocks are falling again as trade tensions heat up between the U.S. and China.

Technology companies, banks and industrial stocks were falling the most in midday trading Friday. Apple lost 1.4 per cent and Boeing fell 2.6 per cent.

The market has been on a bumpy ride this week as traders try to get a sense of whether a trade dispute between the two nations will escalate. President Donald Trump has proposed more tariffs on Chinese goods.

The S&P 500 fell 27 points, or 1 per cent, to 2,635. The index is now down for the week.

The Dow Jones industrial average lost 346 points, or 1.4 per cent, to 24,158. The Nasdaq composite declined 59 points, or 0.9 per cent, to 7,016.

The yield on the 10-year Treasury fell to 2.78 per cent.

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9:35 a.m.

Stocks are opening lower after President Donald Trump proposed more tariffs on Chinese goods.

Industrial companies were especially hard hit by the escalation in trade tensions Friday. Aerospace giant Boeing fell 1.1 per cent.

There wasn't much for investors to like in the government's latest jobs report either. Employers added 103,000 jobs last month, the weakest showing in months, and January and February's numbers were also revised lower.

The S&P 500 fell 11 points, or 0.4 per cent, to 2,651.

The Dow Jones industrial average lost 152 points, or 0.6 per cent, to 24,347. The Nasdaq composite declined 20 points, or 0.3 per cent, to 7,056.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.80 per cent.

News from © The Associated Press, 2018
The Associated Press

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