Increased import taxes that could cost American consumers and companies more money have driven the stock market down by the hundreds of points….
Stocks fell broadly on Wall Street Monday after President Donald Trump’s threat to escalate a trade war moved closer to reality.
U.S. Trade Representative Robert Lighthizer said higher tariffs on China will take effect on Friday. The deadline for more tariffs looms over negotiations, which are set to resume on Thursday in Washington.
Every sector fell, extending the market’s losses into a second day. Technology companies and banks led the decline. Utilities, normally safe-play holdings for investors, fared better than the rest of the market. Bond prices also rose as investors sought out other ways to reduce risk….