FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 13, 2019. REUTERS/Eduardo Munoz
NEW YORK (Reuters) – Wall Street tumbled on Friday after the U.S.-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing business with China after Beijing announced its own slate of retaliatory measures.
The Dow Jones Industrial Average fell 622.19 points, or 2.37%, to 25,630.05, the S&P 500 lost 75.7 points, or 2.59%, to 2,847.25 and the Nasdaq Composite dropped 239.62 points, or 3%, to 7,751.77.
Reporting by Stephen Culp; editing by Jonathan Oatis
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source: reuters.com