US stocks dive as trade jitters return

Photo: Xinhua / Wang Ying
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NEW YORK (AP) -- 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.

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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 America fell 5.7 percent.

Small-company stocks fell more than the rest of the market.

The S&P 500 lost 63 points, or 2.3 percent, to 2,727.

The Dow lost 574 points, or 2.2 percent, to 25,253. The Nasdaq fell 197 points, or 2.7 percent, to 7,244.

Bond prices rose sharply. The yield on the 10-year Treasury fell to 2.92 percent.

Stock and bond trading will be closed in the U.S. Wednesday in observance of a national day of mourning for former President George H.W. Bush.

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12:33 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 America fell 5.1 percent.

Small-company stocks fell more than the rest of the market.

The S&P 500 lost 61 points, or 2.2 percent, to 2,729.

The Dow lost 536 points, or 2.1 percent, to 25,292. The Nasdaq fell 197 points, or 2.7 percent, to 7,244.

Bond prices rose sharply. The yield on the 10-year Treasury fell to 2.92 percent.

Stock and bond trading will be closed in the U.S. Wednesday in observance of a national day of mourning for former President George H.W. Bush.

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11:45 a.m.

Stock indexes fell in midday trading on Wall Street, giving back much of the market's gain from the day before.

Losses in banks, technology stocks and industrial companies outweighed gains elsewhere Tuesday.

Apple lost 2.2 percent and Bank of America slumped 3.7 percent.

Small-company stocks fell more than the rest of the market.

The S&P 500 index lost 23 points, or 0.9 percent, to 2,766.

The Dow Jones Industrial Average fell 211 points, or 0.8 percent, to 25,611. The Nasdaq composite gave up 84 points, or 1.1 percent, to 7,356.

Bond prices rose. The yield on the 10-year Treasury fell to 2.94 percent.

Stock and bond trading will be closed in the U.S. Wednesday in observance of a national day of mourning for former President George H.W. Bush.

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9:35 a.m.

Stocks are opening lower on Wall Street, led by losses in technology companies and banks.

Apple lost 1.7 percent early Tuesday and Bank of America was down 1.3 percent.

Dollar General sank 5.6 percent after reporting weak results.

The S&P 500 index lost 8 points, or 0.3 percent, to 2,782.

The Dow Jones Industrial Average fell 65 points, or 0.3 percent, to 25,761. The Nasdaq composite gave up 33 points, or 0.5 percent, to 7,407.

Bond prices rose. The yield on the 10-year Treasury fell to 2.95 percent.