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The Wall Street stock market has plummeted on Monday, local time. This is because the Trump administration is reported to be trying to increase the level of trade disputes with China amid the ongoing weakness trend of large IT stocks.

Most correspondent reports.

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The Dow Jones Industrial Average (Dow Jones) index, which rose to 350 points earlier this week, was down 245.4 points today (30th).

The S & P 500 and the Nasdaq were down 17.4 points and 116.9 points, respectively.

Large IT stocks such as Amazon, Netflix and Google's parent company alphabet led the stock price down.

The news that China is reviewing the automobile import tax cut stimulated investors' buying sentiment in the early part of the day, but it did not last half a day.

The stock price has been spurred by reports that the United States plans to impose tariffs on all remaining Chinese imports in the event of poor trade dispute results at the US - China summit next month.

The fact that even the stocks that announced their earnings in the third quarter exceeded market expectations, the news that trade friction will rise at a time when stock prices are falling has been a bad news for the market.

In the big frame, there are many analyzes that the real economic growth of the United States is cornering and slowing down.

In the third quarter, the US gross domestic product growth rate was 3.5%, but it was lower than the 4.2% in the second quarter.

This is an analysis that the US central bank's interest rate hike and the uncertainty surrounding the results of the midterm elections have added to investors' weight.