NEW: Stocks are falling sharply on Wall Street again, extending a week of volatility amid rising U.S.-China trade tensions.
Stocks are falling sharply on Wall Street again as fearful investors dumped stocks and shoveled money into bonds.Bond prices continued to rise sharply, sending yields to their lowest level in nearly three years. The yield on the 10-year yield dropped to 1.62% from 1.74% late Tuesday, a large move.
Markets have been volatile this week after Washington and Beijing raised the stakes in their trade war. China allowed its currency to weaken after the U.S. said it would raise more tariffs on Chinese goods.The S&P 500 fell 49 points, or 1.7%, to 2,832. The Nasdaq fell 118 points, or 1.5%, to 7,714.Stocks are sinking on Wall Street again as fearful investors dumped stocks and shoveled money into bonds.
Markets have been volatile this week after Washington and Beijing raised the stakes in their trade war. Bond prices continued to rise sharply Wednesday, sending yields to their lowest level in nearly three years. Disney dropped 6.7% after reporting results that fell far short analysts' forecasts. The media giant said its newly acquired Fox entertainment businesses did poorly.The Dow Jones Industrial Average dropped 409 points, or 1.6%, to 25,611. The Nasdaq fell 104 points, or 1.3%, to 7,730.
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