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The Dow drops 400 points in new tariffs and global economic problems



US stocks opened lower across the board, sharply down Dow ( INDU ) throwing more than 400 points. S&P 500 ( SPX ) and Nasdaq Composite ( COMP ) are trading 1.1% lower respectively . The stocks extended their losses after worse than expected production data.

The Production Index of the Institute for Supply Management for August reached 49.1 – its lowest level since January 2016 and worse than the expected 51

number. A level below 50 indicates that the sector has shrunk. August marks the first time in three years that the US manufacturing sector has shrunk.

Earlier, the Purchasing Managers' Index for August reached 50.3, slightly better than expected.

Manufacturing in the USA injures. because of the trade war and the global economic slowdown. So far, however, US consumers have been maintaining the jealousy of the economy.

Global Uncertainty This will be the third UK election in four years.

On Sunday, the US imposed a 15% tariff on about $ 110 billion in Chinese imports, while Beijing ceded a 5% to 10% fee for about $ 75 billion in US

Meanwhile, China filed a complaint against the United States to the World Trade Organization news reports.

This latest round of tariffs in the US also affected consumer products made by China, including clothing and electronics. The United States has delayed the implementation of about half of these consumer goods tariffs by December 15, aiming not to disrupt too much holiday shopping.
In one way or another, US consumer concerns about the trade war are beginning to increase in economic data and will closely monitor some of the data going forward.


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