Another escalation in the U.S.-China trade war rattled investors today, sending stocks broadly and sharply lower. The Dow Jones Industrials plunged 623 points, the Nasdaq Composite tumbled 239, or 3%, and the S&P 500 dropped 75.
Tech shares and retailers fell sharply, as did shares of several energy companies: ExxonMobil slid 3% and Halliburton dropped 5%. Also, shares of Houston-based natural-gas company Tellurian tumbled 18%, snapping a six-session winning streak.
Oil futures finished sharply lower in the wake of China’s decision to enact new tariffs as well as ongoing energy-demand fears. October crude skidded 2.1% to settle at $54.17 a barrel.
Some good news for travelers: Amtrak this week restored full service on its Chicago-to-New Orleans line. For several months, due to the tracks being on the flood plain, the line had been terminating in Jackson, Mississippi.