Wall Steet opens lower on fears of broader trade spat with China

  • 5 years ago
Stocks took a dive on Wall Street on Thursday as investors started to fear the U.S.-China trade war would stymie global economic growth... and dumped shares with technology financials and energy sectors leading the declines.
The Dow Jones Industrial Average lost more than 2-hundred-and-86 points or 1-point-1 percent... the S&P 500 fell 1-point-2 percent closing in the red for a fourth session in five.
The Nasdaq Composite wiped out 1-piont-6 percent.
The Dow is now down more than 380 points in two days as Wall Street begins to realize the trade war between the world's two largest economies may last a lot longer than previously expected.
"Yes, it is a negative day. Yes, there's some anxiety. I wouldn't blow it out of proportion. Let's see how the follow-through comes in tomorrow and into the weekend, and we'll see what happens going forward."
West Texas crude had its biggest two-day drop of the year... down 5-point-4 percent to 58 dollars and 13 cents a barrel.. the lowest in over 10 weeks.
This as inventory data alleviated concerns over a supply crunch... and traders increasingly girded for a full-blown trade war.