As the US and China's trade war intensified, the major stock indexes in New York fell sharply.
On the New York Stock Exchange, the Dow Jones 30 Industrial Average closed at 25,628.90, down 623.34 points.
The Standard and Poor's 500 Index closed at 75.84 points at 2,847.11, while the tech-focused Nasdaq Index closed at 7,751.77, down 239.62 points.
Local media analyzed that China's announcement of tariffs on US $ 75 billion worth of US-made goods raised concerns about the economic recession caused by prolonged trade wars, as President Trump responded with a hard-line response to tackle retaliatory tariffs.
Also, local media say that Jerome Powell's Federal Reserve Chairman failed to comment on the rate cuts the market expected in his policy speech.
New York stocks intensify trade war Plunging deadline
2019-08-23T23:46:54.741Z
As the US and China's trade war intensified, the major stock indexes in New York fell sharply. The Dow Jones 30 industry average on the New York Stock Exchange plunged 34.34 points to 25,628. Closed at 90.
Source: sbskr