Global stock indexes are falling Wednesday after the Trump administration released a list of $200 billion in goods that could be hit with tariffs and China said it would to retaliate. In the U.S., industrial companies and basic materials makers are taking some of the worst losses.
The S&P 500 index lost 14 points, or 0.5 percent, to 2,779 as of 10 a.m. Eastern time.
The Dow Jones Industrial Average dropped 144 points, or 0.6 percent, to 24,775.
The Nasdaq composite fell 43 points, or 0.6 percent, to 7,715. The Russell 2000, an index of smaller and more U.S.-focused companies, gave up 8 points, or 0.5 percent, to 1,687.
Indexes in Europe and Asia took steeper losses as investors worried the worsening trade dispute will hamper the growth of the global economy.
France’s CAC 40 lost 1.3 percent and the DAX in Germany fell 1.5 percent. Britain’s FTSE 100 index dropped 1.1 percent.
Japan’s benchmark Nikkei 225 fell 1.2 percent and South Korea’s Kospi lost 0.6 percent while Hong Kong’s Hang Seng shed 1.3 percent.
Benchmark U.S. crude fell 1 percent to $73.42 a barrel in New York. Brent crude, used to price international oils, lost 2 percent to $77.23 a barrel in London.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.85 percent from 2.87 percent.
The dollar fell to 111.22 yen from 111.28 yen. The euro edged up to $1.1750 from $1.1745.