Wall St. sinks as yuan slide inflames U.S.-China trade dispute

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Wall Street’s major indexes posted their biggest percentage drop of the year on Monday, as a fall in the yuan following U.S. President Donald Trump’s vow to impose additional tariffs on Chinese goods sparked fears of further escalation of the U.S.-China trade war.

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NEW YORK (Reuters) – Wall Street’s major indexes posted their biggest percentage drop of the year on Monday, as a fall in the yuan following U.S. President Donald Trump’s vow to impose additional tariffs on Chinese goods sparked fears of further escalation of the U.S.-China trade war.

The S&P 500 posted three new 52-week highs and 32 new lows; the Nasdaq Composite recorded 13 new highs and 280 new lows.

Volume on U.S. exchanges was 9.41 billion shares, compared with the 6.8 billion average for the full session over the last 20 trading days.

Reporting by April Joyner; Additional reporting by Saqib Iqbal Ahmed and Sinéad Carew in New York and Medha Singh and Arjun Panchadar in Bengaluru; Editing by Steve Orlofsky, Dan Grebler and Bill Berkrot


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Author:

Wall Street’s major indexes posted their biggest percentage drop of the year on Monday, as a fall in the yuan following U.S. President Donald Trump’s vow to impose additional tariffs on Chinese goods sparked fears of further escalation of the U.S.-China trade war.

Source: {authorlink}

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