U.S.-China Trade Standoff Weighs on Global Shares

U.S.-China Trade Standoff Weighs on Global Shares

As trade tensions continue to rise between two of the world’s biggest economies, the Dow Jones Industrial Average fell 0.9%, the S&P 500 dropped 0.7%, and the Nasdaq Composite fell 0.8%. President Trump approved tariffs of 25% on $50 billion of Chinese goods. In response, Beijing announced the country would levy penalties on hundreds of U.S. goods. Investors are worried the situation could descend into a trade war. The fate of the North American Trade Agreement and various other tariffs imposed by the Trump administration are adding to investors’ concerns.

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