Dow falls 100 pts as China vows retaliation to tariffs

Thursday, 15. August 2019 11:46

After posting gains in early premarket trade on Thursday, Wall Street turned negative on the announcement by the Chinese Finance Ministry that it plans to retaliate against tariffs set to be implemented by the United States from September. The 10% duty on roughly $150 billion worth of Chinese goods is a violation of the agreement reached at the G20 Osaka meeting between presidents Xi Jinping and Donald Trump, Beijing stressed. It didn't, however, specify, which measures it intends to take.

The Dow Jones Industrial Average index lost 104 points at 5:47 am ET, or 0.42%. At the same time, the S&P 500 was down 0.17% and the Nasdaq 100 contracted 0.62% in premarket trade.

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