Stocks tumble on renewed US-China trade jitters
Stocks kicked off the week trading lower Monday as the Trump administration reportedly prepared to restrict investment in U.S. technology by Chinese companies.
The Dow was down more than 400 points, with Boeing and Intel lagging. The S&P 500 fell 1.8 percent as tech declined. The Nasdaq sank 2.5 percent as Facebook, Amazon, Netflix and Google parent Alphabet dropped.
The Wall Street Journal reported Sunday that President Donald Trump plans to bar several Chinese companies from making investments in U.S. tech. The newspaper also reported that the administration wants to block additional technology exports to China. Both measures are expected to be announced by the end of the week.
Increasing trade tensions between the U.S. and its key trade partners, including China, have kept Wall Street on edge. The major indexes finished last week lower after Trump asked the U.S. trade representative to target $200 billion worth of Chinese products for tariffs. Trump also raised the possibility of slapping a 20 percent charge on European cars.
https://www.msn.com/en-us/money/markets/stocks-tumble-on-renewed-us-china-trade-jitters/ar-AAz7WOJ?li=BBnbfcN
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