US Markets See Historical Fall amid Renewed China Tensions

DID Press: US stock markets recorded their steepest decline since early days of Donald Trump’s presidency following renewed trade tensions with China and a planned meeting between senior officials from both countries has been called off.

Markets tumbled after Washington threatened to sharply raise tariffs on Chinese imports and cancelled a scheduled meeting between the U.S. and Chinese presidents.

At the close of trading, the Dow Jones Industrial Average plunged nearly 900 points, a drop of about 2.4%. The Nasdaq Composite slid more than 3.5%, while the S&P 500 fell 2.5%.

Analysts said the sell-off reflected investor fears of a new escalation in the U.S.–China trade dispute, which could weigh heavily on global growth and financial markets.