US: Wall Street suffers worst losses of 2019 on US-China trade war escalation

Wall Street stocks plunged on Monday after a forceful response by Beijing to the latest US tariff announcement escalated an ongoing trade war, exacerbating global growth worries.[NEW YORK] Wall Street stocks plunged on Monday after a forceful response by Beijing to the latest US tariff announcement escalated an ongoing trade war, exacerbating global growth worries.

At the closing bell, the Dow Jones Industrial Average stood at 25,718.01, down 2.9 per cent and the worst session of the year. The broad-based S&P 500 slumped 3.0 per cent to 2,844.73, while the tech-rich Nasdaq Composite Index tumbled 3.6 per cent to 7,726.04.

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