US: Dow dives 2% as China-US trade spat intensifies

[NEW YORK] The Dow Jones Industrial Average sank more than 2 per cent at the open on Wednesday as big US manufacturers, grain merchants and chipmakers bore the brunt of a deepening trade conflict between China and the United States.

The S&P 500 opened below its 200-day moving average, a key technical level.

The Dow fell 506.21 points, or 2.11 per cent, to 23,527.15.

The S&P lost 40.75 points, or 1.56 per cent, to 2,573.7. The Nasdaq Composite dropped 126.95 points, or 1.83 per cent, to 6,814.33.

REUTERS