Wall Street Plunges Again As Us/China Trade War Take Hold
March 26th, 2018
WALL Street took another tumble on Friday, with the Dow falling 400 points, for a loss of more than 1100 points in the two days since President Donald Trump launched a high-stakes trade confrontation with China.
And while the president has repeatedly touted the success of his policies by pointing to the soaring stock market, the blue-chip Dow Jones Industrial Average has lost 3000 points since it peaked three months ago.
On the last trading session of a volatile week, the Dow fell another 1.8 per cent to close at 23,533.20.
The broadbased S & P 500 dropped 2.1 per cent to end the week at 2,588.26, while the tech-rich Nasdaq Composite Index fell 2.4 per cent to 6,992.66.
Trump on Friday said his tough policies — including steep tariffs on steel and aluminium imports, and harsh penalties on Chinese goods and trade practices — have brought trading partners to the negotiating table.