The following is an excerpt from The Associated Press | June 19, 2018 | abcnews.go.com |
The latest on developments in financial markets (all times local):
The Dow Jones industrial average is closing with its sixth straight loss Tuesday as worries about a U.S.-China trade dispute hit stock indexes around the globe.
The Dow is down 287 points, or 1.1 percent, to 24,700. Big industrial companies that are part of the index, such as Boeing and Caterpillar, suffered steep losses.
The S&P 500 index is off by 11 points, or 0.4 percent, to 2,762. The Nasdaq composite is down 21 points, or 0.3 percent, to 7.725.
The global sell-off came after President Donald Trump threatened to put tariffs on another $400 billion in imports from China, and the Chinese government said it would retaliate.
Investors sought safer investments, such as high-dividend companies like utilities and companies that make and sell household goods. They also favored bonds.
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