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Stocks tumble back on Report US plans more fares



NEW YORK – Fears that the Trump government will announce tariffs on all remaining imports from China helped US stocks from a strong early profit to another strong loss on Monday.

Technology companies fell again after Bloomberg News reported that the US is out If the two sides are not making any progress on trade talks next month, they are planning new tariffs.

Technology and Internet companies, industrial companies and retailers have suffered heavy losses as Wall Street continued its recent phase of volatility. The S & P 500 Index fell 9.4 percent in October and is on track to its worst monthly loss since February 2009. That was just before the market bottomed during the financial crisis of 2008-09.

Bloomberg News reports that Trump If Presidents Donald Trump and Xi Jinping fail to make substantive progress in easing the trade dispute next month, tariffs on imports from the rest of China will be cut.

The S & P 500 Index fell 17.44 points or 0.7 percent to 2,641.25

The Dow Jones Industrial Average even gained 352 points on Monday morning, but closed 245.39 points or 1 percent to 24,442 , 92nd During the day, it even fell by 566.

The Nasdaq alliance, which is heavily exposed to technology stocks, lost 116.92 points, or 1.6 percent, to 7,050.29. The Russell 2000 Index of Smaller Companies Down 6.51 Points or 0.4% to 1 447.31

Stock markets have slumped since the beginning of October, breaking through a long period of relative calm in the summer, and trading was last particularly volatile few days.

Among industrials, Boeing fell 6.6 percent to $ 335.59. Some early gains for tech and internet stocks also faded. Microsoft lost 2.9 percent to $ 103.85. Alphabet, Google's parent company, lost 4.5 percent to $ 1,034.73

Amazon.com fell another 6.3 percent to $ 1,538.88. The online retailer crashed on Friday after reporting weak sales and delivered a lower-than-expected sales estimate for the quarter that includes the Christmas shopping season. Its share traded at over $ 2,000 a share in early September and has since fallen 24.5 percent.

The S & P 500, the most important benchmark for the US stock market, fell 9.9 percent from its most recent record high on September 20. Since breaking the record high on August 29, they have dropped 13 percent.

For most of this year, investors were confident that the US and China would dispel their trade policy disputes and reduce or eliminate many of the tariffs. But in recent weeks, they have lost some of their confidence, and that has helped the market collapse

The impact of higher tariffs could be especially bad for technology companies that produce many of their products in China and for industrial companies. which already pay higher prices for metals. The US and China are the largest economies in the world, and their trade relations are the world's largest, so that higher taxes on imports could also curb global economic growth and increase inflation.

While most technology companies fell, the open source software company Red Hat jumped after IBM agreed to buy it for $ 34 billion in stock. IBM Chairman and CEO Ginni Rometty said that this agreement will make IBM the world's largest provider of hybrid clouds. This means that companies will offer a mix of on-premises public, private and third-party cloud services.

Red Hat rose 45.4 percent to $ 169.63, reversing losses earlier this year. IBM Declined 4.1% to $ 119.64

The prospect of reduced trade barriers helped automakers on Monday. Car companies rose after Bloomberg News reported that Chinese regulators intend to lower the tax on imported cars from 10 percent to 5 percent. The trade battle between the US and China has hurt sales, and this slowdown is one of several factors that has damaged automakers' shares this year.

Ford climbed 3.3 percent to $ 9.28 and auto parts retailer BorgWarner rose 4 percent to $ 39.56. With Cooper Tire & Rubber expecting a larger profit than in the third quarter, the price rose 21.4 percent to $ 30.89.

The German DAX rose by 1.2 percent, as Volkswagen, Daimler and BMW grew significantly. Italy's FTSE MIB Index rose 1.9 percent after Standard & Poor's did not downgrade the company's credit rating. Italy's new government plans to boost spending, and European Union leaders have called for a change in their plans.

The CAC 40 in France increased by 0.4 percent and the British FTSE 100 by 1.3 percent.

Mexico's stock index lost 4.2 percent after President Andres Manuel Lopez Obrador said he would respect the outcome of a referendum that rejected a partially-rebuilt airport for Mexico City. He said 70 percent of voters rejected the $ 13 billion project.

Brazil's Bovespa rose in trade in the morning after right-wing extremist politician Jair Bolsonaro was elected president, but later he sank, losing 2.2 percent. Stocks rallied earlier this month after Bolsonaro led the previous round of voting as investors favored him as leftist.

Bond prices fell. The 10-year Treasury yield rose from 3.07 percent to 3.08 percent.

The price of US crude fell in New York by 0.8 percent to $ 67.04 a barrel, while Brent crude, which was used for international oil prices, lost 0.4 percent to $ 77.34 a barrel London.

Wholesale gasoline added 0.5 percent to $ 1.82 a gallon and heating oil pushed up 0.8 percent to $ 2.28 per gallon. Natural gas was unchanged at $ 3.19 per 1,000 cubic feet.

Gold lost 0.7 percent to $ 1,227.60 an ounce. Silver fell 1.8 percent to $ 14.44 an ounce. Copper was little changed to $ 2.74 a pound.

The dollar rose from 111.85 yen to 112.35 yen. The Euro Drops from $ 1,11412 to $ 1.1390 ​​

The Nikkei 225 in Tokyo fell 0.2 percent and Seoul's Kospi lost 1.5 percent. Hong Kong's Hang Seng rose 0.4 percent.

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