Blame "Tariff Tantrum 2.0" for the latest stock market swoon.
Boeing and Caterpillar, considered vulnerable in any trade war with China, fell by 3.1% and 3.5%, respectively.
With the Dow Jones Industrial Average now frequently dipping into correction territory, the minds of many traders and investors are turning to the question of how long before this bull run - the longest in Dow history post-World War II - becomes a full-on bear market.
"Escalation of the U.S". While exports to China were unchanged in February, imports from the country declined 14.7 percent.
The Dow Jones industrial average closed 572 points lower, a 2.3 percent decrease, while the Nasdaq and S&P 500 index dropped 2.3 percent and 2.2 percent, respectively.
For the week, the Dow was down 0.7%.
US Treasury Secretary Steve Mnuchin in an interview on CNBC said he was cautiously hopeful the United States will reach an agreement with China on trade.
Trump announced Thursday night that his administration would consider imposing $100 billion more in tariffs on Chinese goods. The earlier tariff threats roiled financial markets but stocks had rebounded Thursday on investor hopes that the parties would find a diplomatic solution. "Now we only have one issue to deal with, and that's trade". But the drop resumed shortly thereafter as traders searched for clarity on trade with tensions quickly escalating between the US and China.
The administration was running a "good cop, bad cop kind of negotiating strategy", said Sam Stovall, chief investment strategist at CFRA Research. "However, negotiations could take months".
The probabilities of a recession in the last half of 2019 and early 2020 are increasing in odds and maybe quite dramatically, Kass added, saying: "The bottom line is that our president is going to make market volatility and economic uncertainty great again".
The Chinese government responded by reiterating that it doesn't want "to fight a trade war, but we are not afraid of fighting it".
Stocks were mostly unaffected by the March jobs report, which showed that the US economy added 103,000 positions, down from a much bigger gain in February and well below what analysts were expecting.
Heading into the stock price potential, Exxon Mobil Corporation needs to grow just 11.81% to cross its median price target of $85. A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XOM .
Jump is a dockless electric bike service that has rolled out in San Francisco, where it has 250 bikes, and Washington. The company announced that it's purchasing Jump, the bike-sharing platform that features "electric, dock-less" bikes.
After the women's team won gold yesterday, the men weren't too behind as they beat Nigeria 3-0 in the final. "I'm actually quite upset that she didn't get to compete because I actually love watching her perform".
Kinder Morgan's move will be seen as a blow to Prime Minister Justin Trudeau, who has insisted the pipeline will be built. Kinder Morgan has set a May 31 deadline for talks with "various stakeholders" to allow the project to proceed. "Mr.
According to an online team roster , players range in age from 16 to 21 and many are from Saskatchewan, with two from Humboldt. A semitrailer hit the team's bus near the city of Tisdale, Saskatchewan, at 5 p.m. local time Friday, the RCMP says.
Severe neck pain developed over the next few days along with debilitating severe headaches , lasting just a few seconds at a time. Much like the name suggests, they can be described as severely painful headaches that strike all of a sudden like thunder.
A Ferrari mechanic was in hospital last night with a double leg-break after being hit by the auto of Kimi Raikkonen . Bottas came in a lap later, but Mercedes mixed it up by fitting his vehicle with the medium tyres.
It's a total witch hunt", said Trump, who claimed that he had "given over a million pages in documents to the special counsel. She has said Cohen paid her to keep quiet about having sex with Trump in 2006, the year after he married Melania Trump.
Mattis also said the "first thing" the administration is considering is why chemical weapons are being used at all in Syria. At the Pentagon on Monday, Mattis spoke about how the USA will respond to the use of chemical weapons on civilians.