Dow ends bruising session 2.3% lower on trade war fears

Dow sinks 500 points upon open as US, China issue new tariffs

At the start of the week, the USA announced plans to put tariffs on $50 billion in goods imported from China, and the Chinese government responded with measures of equal size. The Russell 2000 index of smaller-company stocks added 19.62 points, or 1.3 percent, to 1,512.15.

Bob Smith, president and chief investment officer at Sage Advisory Services Ltd Co in Austin, Texas, said the markets were going to react adversely to Trump's latest statement. The FTSE 100 in Britain lost 0.2 per cent.

The return of market volatility, fears of a trade war and the recent underperformance of some of the major indices' largest components have been a drag on stocks overall.

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

Then came a directive from the White House, asking staff to find $100 billion worth of Chinese goods to hit with tariffs.

"The process itself seems to be quite chaotic", she said. We were badly represented.

In regards to backing down in the potential trade war, Mr. Trump said on WABC Radio's, Bernie & Sid in the Morning show, "If I did that, I'm not doing my job".

MotoGP, Agostini: "Marquez was stupid, but he doesn't deserve to be disqualified"
If all the riders race like this, this will become a very unsafe sport and it will finish in a bad way. The line was dry but I hit a wet patch and locked the front, released the brake and there was contact.

Rana strikes twice but Mandeep's cameo takes RCB to 176-7
KKR did lose few wickets, but Nitish Rana (34) and skipper Dinesh Karthik fabricated a 55-run partnership to bring some stability. Writing in his column for Times of India, De Villiers said the ongoing season of the cash-rich league was his eighth with RCB .

West Ham punish wasteful Chelsea
But the fact remains, Conte has presided over just three wins in Chelsea's last 10 Premier League games. They have to win all their games as a top club so don't think for a minute that they will switch off.

Benchmark U.S. crude dropped $1.48, or 2.3 per cent, to $62.06 a barrel in NY while Brent crude, used to price worldwide oils, lost $1.22, or 1.8 per cent, to $67.11 per barrel in London. The decline took the benchmark index within striking distance of its 200-day moving average, a closely watched technical level that is often used to gauge the long-term momentum in an asset's price.

"I think these are all long term positive things that the president is willing to defend our interests", Mnuchin said.

The Dow average, which contains numerous multinational companies including industrial powerhouses Boeing and Caterpillar, has swung dramatically this week, with about 1,300 points separating its highest and lowest marks.

Craig Holke, investment strategy analyst for the Wells Fargo Investment Institute, said the market will continue to bounce around as investors worry about changes in trade that could slow down the global economy and company profits.

The yield on the 10-year US Treasury note, which has been steadily climbing as investors' inflation expectations rise, dipped to 2.78 percent after the jobs report. Copper fell 2 cents to $3.06 a pound.

With the Dow and 10-year yields testing support near the tops of 70-year and 25-year channels in the first chart and the Dow and S&P testing support at each (2) in the second chart, if these support lines would break to the downside, don't be surprised if selling pressure picks up.

Related news:

Hot News

isis-killer-beheading-video-story-top Lewis Hamilton: "Happy Now That I've Cooled Down"
Apr 11, 2018 - 12:43
But he is going through a hard start of the season, finishing sixth at the opener in Australia race after a series of mistakes. It's why they've brought in the halo, and a raft of other changes since Jules Bianchi passed away three years ago.

isis-killer-beheading-video-story-top CBO: Tax Cuts, Spending Driving Debt to Historic Levels
Apr 11, 2018 - 12:42
Bush, as well as sharp increases in military spending for the wars in Afghanistan and Iraq. Those surpluses turned to deficits after tax cuts under President George W.

isis-killer-beheading-video-story-top 'Black Panther' surpasses 'Titanic' at United States box office
Apr 11, 2018 - 12:39
Regarding worldwide figures Titanic still leads Black Panther , bringing in $2.2 billion worldwide during its theatrical run. Black Panther , starring Chadwick Boseman, Lupita Nyong'o, Letitia Wright, Danai Gurira, Daniel Kaluuya and Michael B.

isis-killer-beheading-video-story-top Manchester City vs. Liverpool in UEFA Champions League
Apr 10, 2018 - 20:05
No matter what happens on Tuesday, Man City will be crowned champions of the Premier League very soon, as possibly as early as this Sunday.

isis-killer-beheading-video-story-top Pelosi calls on EPA's Pruitt to resign
Apr 10, 2018 - 20:04
On one trip to Italy, from June 5-12 of previous year , his security detail alone amounted to more than $30,000. Trump has praised Pruitt's relentless efforts to scrap, delay or rewrite Obama-era environmental regulations.

isis-killer-beheading-video-story-top Tiger Woods' Masters finishes with a bang
Apr 10, 2018 - 20:01
Then the rain came, a heavy shower that started and stopped with equal suddenness, as if someone was working it with a switch. He then drained a 25-foot birdie putt at No. 9 and a 9-footer at No. 10, and never led by less than three shots after that.

isis-killer-beheading-video-story-top China plans to build military base in Vanuatu
Apr 10, 2018 - 19:56
According to him, Vanuatu is a non-aligned country and is not interested in militarisation or hosting any sort of military base. But he said it was important the Pacific be maintained as a peaceful region.

isis-killer-beheading-video-story-top OnePlus 6 camera scores triple digits in DxOMark rating? Leaks speculate
Apr 10, 2018 - 19:55
The notch houses a selfie camera, LED notification light and the earpiece, while the bottom and side bezels appear quite thin. One unique trait of the upcoming OnePlus 6 is the presence of a red Alert Slider as standard on all variants.

isis-killer-beheading-video-story-top Ferrari mechanic suffers double-break following Kimi Raikkonen pit stop
Apr 10, 2018 - 19:51
Hamilton had his work cut out starting from ninth, and managed to achieve the podium finish he would have been hoping for. Radio exchanges became fraught as Mercedes and Hamilton discussed the scenarios with a crackling signal.

isis-killer-beheading-video-story-top Iran: US would 'regret' withdrawing from nuclear deal
Apr 10, 2018 - 19:37
Iran insists its efforts have been for research and technology, and that its missiles are purely defensive. The government will sell the U.S. dollar at a rate of 42,000 rials to all individuals and businesses.

isis-killer-beheading-video-story-top 'Black Panther' to overtake 'Titanic' in all-time domestic box office gross
Apr 09, 2018 - 00:38
Globally, Black Panther has grossed $1.29 billion, ranking as the No. 10 title of all time. Black Panther has earned 659.3 million dollars in the domestic market.

isis-killer-beheading-video-story-top Joey's expecting a goalfest in tonight's Champions League clash at Anfield
Apr 09, 2018 - 00:37
And they point out that both areas are close to Anfield and that fans were going to gather outside the stadium regardless. Our team is built to create and attack, that's why we made the decisions we did to go forward.

isis-killer-beheading-video-story-top Floyd Mayweather says Conor McGregor should behave like a 'gentleman'
Apr 09, 2018 - 00:32
If I do come back, Showtime and CBS have to be involved". "Is it possible that I come back? Yes". Al Haymon says no. "I spoke with Showtime , (and) I spoke with CBS.

Israeli Sniper Targets, Kills Journalist in "PRESS" Vest
Apr 09, 2018 - 00:32
A Palestinian farmer was also killed last week the before dawn on Friday, March 30th, the first day of the massive demonstration. Five Israelis - three settlers and two soldiers - were killed by Palestinians in the West Bank during the same period.

isis-killer-beheading-video-story-top North Korea Hold Secret, Direct Talks
Apr 09, 2018 - 00:23
South Korea's National Intelligence Service Chief Suh Hoon has been in close contact with his USA and North Korean counterparts. What we will see next is the exchanges of presidential envoys between the USA and North Korea".