Tariff Fight: Market Tensions and Dow Jones

tariff fight: The Nasdaq Composite Index COMP, 1.14% sank 269.92 points, or 3.4%, to 7,647.02, marking its biggest one-day loss for 2019, according to Market Watch. What drove the market Tensions that drove volatility for stocks last week returned as investors weighed an escalating tariff fight that could pose risks to the U.S., Chinese and global economies. How did the benchmark indexes fare The Dow Jones Industrial Average DJIA, 0.82% tumbled 617.38 points, or 2.4%, to 25,324.99 and the S&P 500 index SPX, 0.80% dropped 69.53 points, or 2.4%, to 2,811.87. Check out Here are the stocks to buy if an all-out U.S.-China trade war erupts, says Goldman After raising tariffs on 200 billion worth of annual Chinese imports to 25% from 10% on Friday, the Trump administration said it was ready to impose higher tariffs on another roughly 300 billion of goods, or nearly all the remaining products Americans buy from the world's second-largest economy. See Here's how hard the tariff fight could hit the economy Chinese state-ran media over the weekend published several editorials blasting the U.S. stance and vowed that Beijing would stand firm in the talks. Need to Know Almost time for investors to take major defensive action,' fund manager warns On Monday, Chinese officials announced retaliatory tariffs against the U.S., hitting 60 billion in annual exports to China with new or expanded duties that could reach 25%. In several tweets over the weekend and early Monday, President Donald Trump argued that the U.S. was in an advantageous position on trade, though White House economic adviser Larry Kudlow admitted Sunday that both sides will feel the pain. (news.financializer.com). As reported in the news.