Dow Drops More Than 500 Points on Tariff and Trade Worries.
'U.S. stocks dropped sharply in another dizzying day of trading on Thursday as investors feared that Trump administration tariffs on imported steel and aluminum will lead to retaliation from other countries. The Dow Jones industrial average lost more than 500 points.
President Donald Trump told industry executives he will impose a tariff of 25 percent on imported steel and 10 percent on aluminum "next week." Investors wondered if that will lead to other countries putting up barriers that will hurt the global economy as well as profits for U.S. exporters like Apple.
The Standard & Poor's 500 index was down 46 points, or 1.7 percent, at 2,667 as of 2:25 p.m. Eastern time. The index is coming off its worst month in two years, when concerns about higher inflation and rates helped trigger a 10 percent drop.
The Dow Jones industrial average fell 503 points, or 2 percent, to 24,525. It was down as much as 586 points earlier. The Nasdaq composite lost 127 points, or 1.8 percent, to 7,145.'>>>
https://www.nytimes.com/aponline/2018/03/01/world/asia/ap-financial-markets.html?
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