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All 3 Major US Trade Indices Plunge On Growing US-China Trade Rift

Umer Jamshaid Published August 24, 2019 | 01:30 AM

All 3 Major US Trade Indices Plunge on Growing US-China Trade Rift

NEW YORK (UrduPoint News / Sputnik - 24th August, 2019) US stock shares of major companies took a plunge deep into the red after President Donald Trump vowed a tough response to China's newly announced tariffs on American goods.

As of 4:00 p.m. EST (8:00 p.m. GMT), the New York Stock Exchange closed, the Dow Jones index was down 2.

37 percent (622 points), tech index Nasdaq by 3 percent (239 points), and the S&P 500 had dropped by 2.58 percent (75 points).

Trump said by Friday afternoon he will respond to China's decision to impose new tariffs on US goods worth $75 billion a year. Trump also demanded that US companies look for an alternative to China in their activities.

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