Tech stocks walloped as China retaliates in the latest salvo of its trade war with the U.S.

Tech stocks walloped as China retaliates in the latest salvo of its trade war with the U.S.

5 years ago
Anonymous $ZuTig1gZkQ

https://techcrunch.com/2019/08/05/tech-stocks-walloped-as-china-retaliates-in-the-latest-salvo-of-its-trade-war-with-the-u-s/

All U.S. stock markets were down severely today, and tech stocks were hit especially hard, as China retaliated to increasing U.S. tariffs by halting imports on U.S. agricultural goods and finally acceded to market pressures by letting the yuan slide in value against the dollar.

At one point, the Dow was down nearly 900 points before staging a late afternoon rally to close off by roughly 760 points. The Nasdaq, the marketplace which is home to a number of technology stocks, saw its value drop by 3.4% or 277.10 points.

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