Markets down: Drop more than 458 points after news of China tariffs, trade war
Coupled with concerns about high-profile tech companies.
The stock market took a tumble Monday, with the Dow Jones dropping more than 458 points.
The tech-heavy NASDAQ and the larger stock index, the S&P 500, are both also down more than 3 percent.
Individual technology companies also appear to be hurting.
Amazon, which has been under fire from Trump in recent days, was down more than 4 percent and Facebook, which is under scrutiny amid revelations about privacy practices, was down more than 3 percent.
Beyond trouble in technology stocks, worries about newly announced Chinese import tariffs and a brewing trade war stemming from the tariffs that President Donald Trump announced in March were believed to have played a role Monday’s drop.
It was announced Monday morning that China raised import tariffs on U.S.-produced pork and fruit, as well as other products.
The Dow closed on Monday down 458.9 points, which equates to a decrease of 1.9 percent.