Trade woes drive Dow 400 pts down

Tuesday, 03. December 2019 15:55

US stock markets plunged deeper on Tuesday as trade uncertainty continued to weigh, with President Trump pushing the potential China trade deal date further back, saying there is no deadline for striking a trade accord with Beijing.

Meanwhile, trade relations with Europe were also put under strain, after it was announced that the US is mulling imposing 100% tariffs on $2.4 billion worth of goods from France in retaliation for its digital tax.

The EU has immediately offered mediation in the dispute, saying it would ask for talks to be launched.

The Dow Jones plummeted 400 points or 1.45% at 9:55 am ET, shortly after the session opened, signaling another volatile day on Wall Street. The tech sector led the losses, with Apple and Intel diving over 2%. The Nasdaq 100 lost 1.43%, while the S&P 500 declined by 1.16% at the same time.

The euro traded flat against the US dollar, buying 1.10833 at 9:56 am ET.

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Breaking the News / GG