Dow ends over 300 points lower as trade hopes fade
Stocks ended sharply lower Tuesday, with the S&P 500 sliding to a session low just ahead of the closing bell after the State Department announced visa restrictions on Chinese government and Communist Party officials believed to be involved in abuse of Muslim minority groups in China. The move, on the eve of high-level U.S.-China negotiations, was seen potentially damping prospects for the talks, with sentiment previously damaged after the U.S. put more than two dozen Chinese companies on a blacklist. Earlier, stocks had trimmed losses somewhat after remarks by Federal Reserve Chairman Jerome Powell, who signaled openness to further rate cuts. The Dow Jones Industrial Average fell around 314 points, or 1.2%, to end near 26,164, while the S&P 500 dropped around 46 points, or 1.6%, to finish near 2,893. The Nasdaq Composite shed nearly 133 points, or 1.7%, to close near 7,824.
Published:10/8/2019 3:17:44 PM