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Trade tensions drive stocks lower - KOAA.com | Continuous News | Colorado Springs and Pueblo

Trade tensions drive stocks lower

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NEW YORK (AP) -

Another flare-up in trade tensions between the U.S. and China sent the stock market sharply lower for the second time this week.
  
The Dow Jones industrial average lost 572 points Friday, having traded down as much as 767. It fell modestly for the week.
  
Caterpillar dropped 3.5 percent, the most in the Dow. Caterpillar and other industrial companies rely heavily on overseas sales and could suffer if commerce is curtailed by rising trade barriers.
  
The latest market swing came after President Donald Trump proposed tariffs on an additional $100 billion in Chinese goods.
  
The Dow recovered some of its worse losses to end down 2.3 percent at 23,932.
  
The S&P 500 fell 58 points, or 2.2 percent, to 2,604. The Nasdaq composite dropped 161 points, or 2.3 percent, to 6,915.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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