Dow tumbles more than 400 points on trade concerns [Los Angeles Times (CA)]
JP Morgan Chase & Co. (JPM)
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Source: Los Angeles Times
Dow tumbles more than 400 points on trade concerns The Dow Jones industrial average tumbled more than 400 points Thursday as investors worried that the U.S. and China were headed for a long standoff in their costly trade dispute. The broad sell-off, which followed a slide in global markets, placed the benchmark S&P 500 index on track for its third straight weekly loss. Traders sought safety in the bond market, driving bond prices higher, which pulled the yield on the 10-year Treasury to 2.30%, the lowest level in more than a year. The market has been highly volatile since Washington and Beijing escalated their dispute over trade earlier this month. The two sides have broken off negotiations and appear set for a long standoff. Investors are concerned that a prolonged trade war could stunt economic growth and hurt corporate profits. Trade-sensitive technology stocks again led the losses. Many tech companies do significant business in China and this week face the additional headwind of t
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