US Stocks Falls After China Issues Tariff Retaliation Plan

U.S. stocks fell sharply at the open on Monday after Beijing announced plans to retaliate with tariffs on U.S. goods, raising fears that another round of tit-for-tat measures could push the U.S. economy toward recession.



The Dow Jones Industrial Average fell 374.31 points, or 1.44%, at the open to 25,568.06. The S&P 500 opened lower by 41.21 points, or 1.43%, at 2,840.19. The Nasdaq Composite dropped 196.87 points, or 2.49%, to 7,720.07 at the opening bell.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza