Markets Right Now: US stocks dive as trade jitters return

Markets Right Now: US stocks dive as trade jitters return

FILE- In this Nov. 28, 2018, file photo trader Michael Milano works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Tuesday, Dec. 4. .

(AP Photo/Richard Drew, File) More NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks took a nosedive on Wall Street as investors worried that a U.S.-China trade truce reached over the weekend wasn't all it was cracked up to be. The Dow Jones Industrial Average sank almost 800 points Tuesday. Boeing and Caterpillar, two major exporters which would have much to lose of trade tensions don't ease, weighed the most on the Dow. Bond prices soared, sending yields lower, as traders shoved money into lower-risk investments. The sharp drop in yields hurt banks because it makes it harder to earn money from lending. JPMorgan Chase sank 4.5 percent. The S&P 500 lost 90 points, or 3.2 percent, to 2, 700. The Dow dropped 799 points, or 3.1 percent, to 25, 027. The Nasdaq fell 283 points, or 3.8 percent, to 7, 158. ___ 1:08 p.m. Stocks are turning sharply lower on Wall Street as trading turns jittery again, erasing 500 points from the Dow Jones Industrial Average. Banks led the market lower as bond yields fell sharply Tuesday, which makes it harder for banks to make money from lending. Bank of ....

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