Dow Drops 600+ on Worst Day Since January

Beijing's top trade negotiator Liu He warned of retaliatory measures after the United States imposed further tariffs on imports from China

Dow plunges 700 points amid escalating trade war between US, China

Eastern Time. The Dow Jones Industrial Average rose 151 points, or 0.6%, to 25,476.

The CBOE Volatility index, a gauge of investor anxiety, posted its biggest daily point gain so far this year.

The S&P 500 fell 2.4% on Monday, marking its worst day since early January while the Nasdaq Composite gave back 3.4%, for its biggest daily loss since December 2018.

Tokyo's Nikkei lost 0.7 per cent, Hong Kong's Hang Seng 1.5 per cent, and the Shanghai Composite 0.4 per cent.

China industrial production and retail sales are slated for Wednesday, the same day as us retail sales and industrial production.

Ministry of Foreign Affairs spokesman Geng Shuang said Monday that China will "never yield to external pressure,"hours before Beijing announced its latest round of tariffs".

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"There's still a sense that the US economy is the driver of the global economy, that its resiliency is surprising to many", said Joseph Amato, chief investment officer of equities at asset manager Neuberger Berman. Brent crude, the global standard, rose $1.01 to $71.24 a barrel. European indexes were mostly down a bit more than 1%. Wholesale gasoline rose a penny to $1.98 a gallon. Citigroup and Bank of America rose more than 1% each while J.P. Morgan Chase gained 0.8%.

Analog Devices rose 1.7% and Thermo Fisher Scientific rose 1.5%.

Gold fell 0.3% to $1,297.70 an ounce.

The Australian share market has plummeted at the start of trade after renewed concerns about US-Chinese trade tensions led to large losses on Wall Street overnight.

However, Greg Luken, CEO of Luken Investment Analytics called it a "temporary recovery".

Talking to CNBC, Greg Luken, CEO of Luken Investment Analytics said: "I think this is going to last for a while". "This is not something that's going to be resolved tomorrow and anybody who says they know exactly how this will play out is spinning a yarn".

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"We've got an administration that is a disruption innovation", Luken added. The goods targeted include a broad range of agricultural products. -China trade deal would come together, and the Federal Reserve said it would take a pause in raising interest rates. The city's stock market was closed Monday for a holiday.

Federal Reserve's NY chief John Williams, a voter in the interest rate setting committee this year, said the recent USA tariffs imposed on Chinese goods will boost US inflation and could dampen economic growth.

European and USA futures are also in the black, with risk appetite finding some support from Trump's comments that he expects trade negotiations to be successful.

To recap, the most recent round of talks between the US and China in Washington went nowhere, leaving markets to ponder the impact on global economic growth of a protracted fight.

-China trade war rattled investors, but comments by U.S. President Donald Trump that he expects trade talks to be successful helped support market sentiment somewhat.

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