Dow falls 2.2 percent as Wall Street losses deepen
- Economy
- Compiled from wire services
- Published Date: 12:00 | 08 December 2018
- Modified Date: 06:50 | 08 December 2018
Losses on Wall Street deepened Friday afternoon amid anxiety over the U.S.-China trade clash as the White House sent conflicting messages on trade policy.
Friday's sell-off erased more than 500 points from the Dow Jones Industrial Average, bringing its weekly drop to more than 1,000.
Technology and health care stocks led the way lower. Microsoft fell 3.4 percent.
Traders have been dumping stocks this week as doubts emerged about how much progress had been made on defusing trade tensions between the U.S. and China.
News that a prominent Chinese tech executive had been arrested at Washington's request suggested those tensions could get worse.
The Dow dropped 561 points, or 2.2 percent, to 24,394.
The broad-based S&P 500 slumped 2.3 percent to 2,633.42, while the tech-rich Nasdaq Composite Index tumbled 3.1 percent to 6,968.48.
The losses ended the worst week for U.S. stocks since March and left both the Dow and S&P 500 in negative territory for the year.
- Real estate stock exchange to ensure secure trading platform for investors
- Upward trend to bring all-time high in exports by end of year
- Finance Minister Albayrak holds meetings with parliamentarians, conveys message for strict fiscal discipline
- Turkey deepens capital markets with attractive securities, receives high investor demand
- Huawei CFO faces US fraud charges related to Iran sales