13May2019 Market Close: Trade War Sinks Stocks - Dow Drops Over 600. Nasdaq Hit Low For The Year. WTI Down More Than 1 Pct To High 60 Handle
Written by Gary
China raised tariffs in response to Trump’s tariffs and Wall Street didn’t like either move. The Dow dropped 617.38 points, or 2.4%, to 25,324.99, posting its worst session since Jan. 3. The S&P 500 also fell 2.4% to 2,811.87. The Nasdaq Composite dropped 3.4% to 7,647.02, its biggest one-day loss of the year. The dollar and gold both rallied in flight to safety. Brent crude was little changed but WTI shed $0.82 (1.33%) to $60.84. Bonds rallied strongly, 10-year treasury yield closing at 2.40%
Source: http://econintersect.com/pages/market/market.php?post=201905131611
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