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Home / Business / Dow crashes as losses gain momentum after China has reciprocated with rising tariffs

Dow crashes as losses gain momentum after China has reciprocated with rising tariffs



Here are 3 Hot Things You Should Know About Stocks Right Now

  • Stocks fell sharply on Monday after China had announced that tariffs on US imports worth up to $ 60 billion were up 25% increase.
  • Apple (AAPL (Get Report) shares fell more than 5% as investors worried over the impact of Chinese tariffs on the technology giant.
  • Teva Pharmaceuticals (TEVA – Get Report) Collapsed After Attorney Generals from more than 40 states had charged the company with conspiracy for artificial inflation and manipulation of drug prices.

Wall Street Overview

Stocks fell sharply on Monday after China had announced tariffs on US imports into the US Up to 25% increase in value of up to $ 60 billion after collapsing last week. Trade talks between the two largest economies in the world.

China announced that the tariff increase for around 5,000 product groups on 1

January Effective June, the United States raised tariffs to $ 200 billion from China's imports to 25% last week [19659007] "The recent escalation of US-China trade tensions is leading to a deterioration in stock prices as rising retaliatory tariffs can trigger a full-blown trade war," said Alec Young, global market research executive, FTSE Russell. "Investors are increasingly concerned that the expected second-half profit recovery may dissipate as President Trump's threat to tax the remaining $ 325 billion on Chinese imports targets disproportionately on consumer goods such as iPhones greater threat to the consumer-driven US economy. "

The Dow Jones Industrial Average fell 583 points or 2.25% to 25,358, the S & P 500 by 2.35% and the Nasdaq by 2.95%.

Boeing's shares (BA – Get Report) fell 3.1% to $ 343.74 after the publisher of the Chinese newspaper Global Times speculated that the country could outdo the aircraft manufacturer in the trade war with the US CNBC.

Teva Pharmaceuticals (TEVA – Get Report) fell 12.1% to $ 12.62 after Attorneys General from more than 40 states claimed that the nation's largest generics companies artificially inflated and manipulated prices for more than 100 different generics.

Insys Therapeutics' (INSY – Get Report) shares fell 74% to 92 cents after the company considered applying for bankruptcy protection, as the financial burden of legal disputes with its role in overcoming the opioid crisis in the USA is related.

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