Dow slides 700 points as US stocks veer sharply lower
U.S. stocks veered sharply lower in afternoon trading Tuesday, pulling the Dow Jones Industrial Average down 700 points.
The wave of selling erased the market’s gains from a day earlier, when stocks rallied on news that the U.S. and China had agreed to a temporary truce in their trade dispute. Investors’ confidence in that truce appeared to falter Tuesday, contributing to renewed fears about a slowing global economy.
Technology companies, banks and industrial stocks accounted for much of the sell-off as traders moved assets into the relative safety of U.S.