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.
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…
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Author: Sam Bourgi