US stocks open lower on trade war worries, Dow falls 1.3%

AFP/APP – US stocks tumbled early Thursday ahead of an expected announcement of harsh import sanctions on China by President Donald Trump that has revived fears of a trade war.

About two minutes into trading, the Dow Jones Industrial Average had fallen 1.3 percent to 24,370.30.

The broad-based S&P 500 dropped 1.1 percent to 2,682.21, while the tech-rich Nasdaq Composite Index shed 1.3 percent to 7,252.33.

Trump was expected to announce actions later Thursday in response to alleged Chinese stealing of US intellectual property. China has vowed to “defend its legitimate rights and interests.”

Posted on: 2018-03-22T22:28:00+05:00