Stocks Close Lower After Renewed Tariff Threats

Dow ends day down 219
By Newser Editors and Wire Services
Posted Jul 11, 2018 3:04 PM CDT

(NEWSER) – Stocks are closing lower after the Trump administration released a list of more goods that could be hit with tariffs and China said it would retaliate, the AP reports. Bond prices and utilities rose Wednesday as investors sought to minimize risk. The dollar rose against other currencies and the price of oil slumped. Industrial and energy companies fell more than the rest of the market. Boeing lost 1.9% and Chevron gave up 3.2%. Chipmaker Micron, which relies on China for half of its sales, sank 2.8%. The declines follow a four-day winning streak. The S&P 500 fell 19 points, or 0.7%, to 2,774. The Dow Jones Industrial Average lost 219 points, or 0.9%, to 24,700. The Nasdaq composite gave up 42 points, or 0.5%, to 7,716.

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