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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowU.S. stock indexes suffered their worst day since March on Tuesday as investors remained on edge over President Donald Trump’s threat to increase tariffs on billions of dollars of imports from China.
The benchmark Standard & Poor's 500 staged a late-session recovery to close off the lows for a second consecutive day. Still, all 30 stocks in the Dow Jones industrial average ended in the red amid speculation that the imposition of fresh levies would upend the global economy.
China’s top trade negotiator still intends to visit Washington, D.C., later this week as Trump ratchets up pressure to clinch a deal that many market participants had expected was all but done.
“Investor complacency finally caught up with the market as a smooth ride to a trade agreement was all but priced in prior to this week,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance. “Unfortunately, real life isn’t as simple as that and we’re running into issues as we get closer to the end of trade negotiations.”
The S&P 500 fell 1.7 percent, to close at 2,884.05. The NASDAQ composite index dropped 2 percent, to 7,963.76, and the Dow Jones industrial average slumped 1.8 percent, or 473 points, to 25,965.09.
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