Stocks plunge on worries over trade
NEW YORK (AP) - Stocks are plunging, sending the Dow Jones industrials down 700 points, as investors fear that trade tensions will spike between the U.S. and China.
The Trump administration announced trade sanctions against China Thursday, and Beijing has said it will defend itself.
Industrial and technology companies, which depend heavily on foreign trade, took some of the worst losses.
Boeing, Caterpillar and Microsoft all fell sharply.
Bond prices surged as investors sought cover, sending yields lower. That helped push bank stocks sharply lower too.
High-dividend stocks like utilities, another safe-play investment, rose.
The S&P 500 index dropped 68 points, or 2.5 percent, to 2,643.
The Dow plunged 713 points, or 2.9 percent, to 23,964. The Nasdaq composite sank 158 points, or 2.2 percent, to 7,181.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
WATCH LIVE: NASA/SPACEX Lanuch
Ascension Parish High School Graduation Ceremonies
Ascension Parish pumps operating in time for upcoming rain
Former NASA engineer - now a Southern University professor - eagerly awaits...
Sheriff cracking down on late-night Tannerite explosions disturbing La. neighborhood
Southern baseball players meet for unofficial practice in Port Allen
Kenan Cooper is first from West Feliciana to swim collegialety
LSU rolls out new turf in Tiger Stadium overnight
LSU Coaches dish on latest with football team
New West Feliciana football coach unsure of when he'll meet his new...