4:20 pm EDT
Stocks got slammed across the board as China upped the ante on the U.S.-China trade war by retaliating with a fresh round of tariffs.
The Nasdaq led the rout with a 3.4% drop, while the Dow Jones Industrial Average and S&P 500 each tumbled 2.4%. Small caps didn't get spared either as the Russell 2000 sank 3.2%. Preliminary data showed volume running slightly higher on the NYSE but lower on the Nasdaq vs. Friday.
The Dow Jones index breached its 200-day moving average for the first time since Feb. 8, while the S&P 500 and Nasdaq closed below their 50-day lines for the first time since mid-January....MORE
The Dow was a sea of red as all but one (Procter & Gamble (PG)) of the 30 component stocks declined. Apple (AAPL), down 6% in above-average volume, weighed on all three major indexes. Shares gapped down below the 50-day moving average for its first close below the support line since Jan. 29. They're now 6% below a 197.79 buy point of a cup with handle.
China woes are weighing on Apple stock. The iPhone maker could face slower sales in China as the trade war intensifies, while a tax on Apple products could eat into profits....
... Boeing (BA) shed 5% to a four-month low. Chinese newspaper Global Times' editor speculated that China could "reduce Boeing orders" amid the trade war, according to CNBC.
Other big Dow Jones losers included Dow (DOW) and Caterpillar (CAT), which gave up more than 4% each....
Earlier:
3:29 pm EDT
Dow Jones Falls 1,473 Points Below Recent High; These 2 Top Stocks Rally
1:47 PM ET
Dow Jones Today: Apple, Boeing, Caterpillar Slammed On China Trade-War Fears
