Tech woes, trade tensions sink US stocks

SHARE Tech woes, trade tensions sink US stocks
ap18092532129520.jpg

U.S. stocks are skidding Monday after China raised import duties on U.S. pork, apples and other products. | AP Photo

NEW YORK — Stocks closed sharply lower on Wall Street as technology companies took heavy losses and investors worried about escalating trade tensions with China.

Big-name tech companies like Microsoft fell more than the rest of the market Monday.

Intel dove 6.1 percent following a report in Bloomberg News that Apple plans to start using its own chips in Mac computers as early as 2020.

Tyson Foods dropped 6.2 percent after China raised tariffs on imported U.S. goods including pork.

The S&P 500 fell 58 points, or 2.2 percent, to 2,581, slightly above its low for the year reached February 8.

The Dow Jones industrial average lost 458 points, or 1.9 percent, to 23,644. It was down as much as 758 earlier.

The Nasdaq gave up 193 points, or 2.7 percent, to 6,870.

The Latest
Grifol knows it’s a hot topic every time he starts veteran Martin Maldonado and his .083 batting average behind the plate. But Grifol emphasized the importance of giving Korey Lee a break from his catching duties.
‘‘It’s a different animal up here,‘‘ Thorpe, 23, said after allowing six hits and five walks. ’’It’s good to get it out of the way, move on and get better for the next one.‘‘
Two men were shot about 3:20 p.m. Sunday in the 11500 block of South LaSalle Street, police said. One man died at Christ Hospital. The other man is in serious condition. No one is in custody.
Two men were shot about 3:20 p.m. Sunday in the 11500 block of South LaSalle Street, police said. One man died at Christ Hospital. The other man is in serious condition. No one is in custody.