U.S. Stocks Fall on Trade Rhetoric, Tech Jitters: Markets Wrap
- President threatens tariffs on more than $400 billion in goods
- Jobs report brings wage gains that won’t deter Federal Reserve
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U.S. stocks fell for a fourth straight days after President Donald Trump’s threat to escalate the trade war with China roiled technology and multinational shares. The dollar climbed and Treasuries fell as wage gains bolstered the prospects for further rate hikes.
The Nasdaq 100 Index capped its worst week since March as Apple slumped on its warning that the Trump administration’s musing over levying virtually everything imported from China would hit a broad range of its products. The S&P 500’s weekly drop was the most since June and Boeing led declines in the Dow Jones Industrial Average. The dollar rallied versus major peers and the offshore Chinese yuan fell the most in a week. The 10-year Treasury yield pushed above 2.94 percent.