NEW: Stocks close down almost 500 points as worries about a weakening global economy boomeranged around the world.
Stocks tumbled again on Wednesday as worries about a weakening global economy boomeranged around the world.
Adding to the market’s uncertainty was a ruling by the World Trade Organization that cleared the United States to impose tariffs on up to $7.5 billion of goods from the European Union to make up for illegal subsidies given to plane-maker Airbus. SECTORS: Technology stocks were among the biggest losers, led by declines from Microsoft and Apple. The sector has swung sharply with shifts in economic forecasts and President Donald Trump’s trade war with China.
Japan’s Nikkei 225 slipped 0.5%, South Korea’s Kospi fell 2% and the Hang Seng in Hong Kong dipped 0.2%.The S&P 500 is already down 3.1% for the month.
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