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Markets Right Now: New tariff threat spooks stock market

May 6, 2019

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

4 p.m.

New jitters over the possibility of an escalation in the costly trade war between the U.S. and China pulled stocks broadly lower.

The sell-off, which eased toward the end of the day Monday, came a day after President Donald Trump threatened to raise tariffs on goods from China.

Trump complained that the trade talks between the two countries are moving too slowly.

Companies with heavy business interests in China bore the brunt of the selling. Chipmaker Micron Technology lost 2.8%

Banks also fell. Health care rose.

The S&P 500 fell 13 points, or 0.4%, to 2,932.

The Dow Jones Industrial Average fell 66 points, or 0.3%, to 26,438. The Nasdaq fell 40 points, or 0.5%, to 8,123.

Bond prices rose. The yield on the 10 year Treasury fell to 2.50%.

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11:45 a.m.

Stocks are lower in midday trading after President Donald Trump threatened more tariffs against China.

The escalation of tensions came just as investors were hoping that the long-running trade war between the world’s two biggest economic powers might be winding down.

Technology companies, which would stand to lose heavily if the trade battle with China gets worse, fell the most Monday. Qualcomm lost 2.1%.

Banks were also lower. JPMorgan Chase lost 1.3%

The S&P 500 index fell 27 points, or 0.9%, to 2,918.

The Dow Jones Industrial Average fell 227 points, or 0.9%, to 26,276. The Nasdaq fell 77 points, or 1%, to 8,086.

Bond prices rose sharply as traders sought safety. The yield on the 10 year Treasury fell to 2.49%.

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9:35 a.m.

Stocks are dropping sharply after President Donald Trump threatens more tariffs against China.

The escalation of tensions Monday came just as investors were hoping that the long-running trade war between the world’s two biggest economic powers might be winding down.

Technology companies, which would stand to lose heavily if the trade battle with China gets worse, fell the most in early trading. Apple lost 2.5%.

Banks were also lower. JPMorgan Chase lost 1.3%

The S&P 500 index fell 36 points, or 1.2%, to 2,909.

The Dow Jones Industrial Average lost 352 points, or 1.3%, to 26,155. The Nasdaq fell 118 points, or 1.4%, to 8,045.

Bond prices rose sharply as traders sought safety. The yield on the 10 year Treasury fell to 2.49%.

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