US Stocks Plunge Amid Fears Trade Row With China to Amplify

Trader Steven Kaplan works on the floor of the New York Stock Exchange, Tuesday, June 19, 2018. U.S. stock markets are opening sharply lower Tuesday as tensions over trade between the U.S. and China seem closer to a boil

The massive fall in stocks was preceded by a major scandal involving the arrest of Huawei Technologies’ chief financial officer, Wanzhou Meng in Vancouver at the request of the US government, threatening to undermine the recently reached understanding between Beijing and Washington on their ongoing trade war.

The Down Jones index dropped by over 450 points due to a significant sell-off on foreign markets, AP reported. The S&P index lost 390 points, dropping to 24,640, which is 1.6% lower than yesterday, while NASDAQ sank by 99 points, to 7,062 — a drop of 1.4%.

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