Wall Street Sinks As China Trade War Looms

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2018-03-23 HKT 05:08

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  • The Dow Jones fell by nearly 3 percent. Image: Shutterstock

    The Dow Jones fell by nearly 3 percent. Image: Shutterstock

Stocks plunged on Thursday after the Trump administration slapped sanctions on goods and investment from China. The Dow Jones industrial average dropped more than 700 points as investors feared that trade tensions between the world's largest economies would escalate.

The Dow Jones industrial average sank 724.42 points, or 2.9 percent, to 23,957.89. The S&P 500 index skidded 68.24 points, or 2.5 percent, to 2,643.69. The Nasdaq composite gave up 178.61 points, or 2.4 percent, to 7,166.68. (AP)