Caixin
Oct 11, 2018 12:44 AM
FINANCE

U.S. Stocks Sink Most Since June on Trade, Yield Angst

Photo: Bloomberg
Photo: Bloomberg

(Bloomberg) — A risk-off tone gripped financial markets, with U.S. stocks falling the most since June as the effects of the trade war hit corporate profits. Treasuries pared losses and the yen rose on demand for haven assets.

The S&P 500 fell to a seven-week low, the Dow Jones Industrial Average plunged more than 400 points and the Nasdaq 100 Index tumbled 2.5% in a broad selloff in U.S. equities. Boeing and Caterpillar dropped at least 3.3%, while computer companies dragged the broader measure to its longest slide since Donald Trump’s election win.

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