Stocks closed broadly lower on Wall Street Tuesday as tensions increased again between the U.S. and China just before the two sides are set to meet again to discuss trade.
Technology companies, banks and health care stocks took the worst of the losses, which stretched the market’s losses into a fourth week. The losses came after the U.S. blacklisted certain Chinese tech companies, saying they are helping Beijing repress Muslim minority groups there.
The S&P 500 index lost 45.73 points, or 1.6%, to 2,893.06.
The Dow Jones Industrial Average slid 313.98 points, or 1.2%, to 26,164.04.
The Nasdaq dropped 132.52 points, or 1.7%, to 7,823.78.
The Russell 2000 index of smaller company stocks fell 25.19 points, or 1.7%, to 1,472.60.
For the week:
The S&P 500 is down 58.95 points, or 2%.
The Dow is down 409.68 points, or 1.5%.
The Nasdaq is down 158.70 points, or 2%.
The Russell 2000 is down 28.10 points, or 1.9%.
For the year:
The S&P 500 is up 386.21 points, or 15.4%.
The Dow is up 2,836.58 points, or 12.2%.
The Nasdaq is up 1,188.50 points, or 17.9%.
The Russell 2000 is up 124.04 points, or 9.2%.
The Associated Press