By CCN Markets: The Dow and broader U.S. stock market plunged anew on Friday after President Trump unleashed a fiery tweetstorm urging American businesses to shift their production domestically and look for “an alternative to China.”

Economic data added fuel to the fire after U.S. home sales plunged by 12.8%.

Dow Plunges; S&P 500, Nasdaq Follow

In the span of just 15 minutes, the Dow Jones Industrial Average wiped out its entire weekly gain on Friday. The DJIA fell 558.78 points, or 2.13%, to 25,693.46.

DJIA
Dow Jones Industrial Average erases weekly gains following 500-point drop. | Source: Yahoo Finance.

The broad S&P 500 Index fell 2.27% to 2,856.52, with all 11 primary sectors reporting declines. Information technology stocks plunged more than 3% to lead the market lower.

Sliding technology shares weighed heavily on…



To read the entire article click here
Author: Sam Bourgi

LEAVE A REPLY

Please enter your comment!
Please enter your name here